A perfectly competitive market is in equilibrium and 100,000 units are being produced. If three firms take over this market and a Cournot oligopoly is formed, what is the new total equilibrium quantity produced?

The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. What quantity does the firm produce?

A) 200 calculators per day B) 300 calculators per day C) more than 300 calculators per day and less than 400 calculators per day D) 400 calculators per day

A depreciation of the U.S. dollar in the foreign exchange market lowers U.S. Real GDP when the _____________ shift of the SRAS curve exceeds the __________ shift of the AD curve

A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward