Who among the following is most likely to favor an appreciation of the U.S. dollar?
A. A German professor visiting Chicago
B. An American farmer who depends on exports
C. An American professor on a tour of Austrian universities
D. Disney World in Orlando, Florida, a popular destination for foreign tourists
Answer: C
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Refer to the scenario above. A firm producing Good Y will ________
A) earn economic profits if it charges a price of 120 B) incur losses if it charges a price of $200 C) earn zero economic profits if it charges a price of $170 D) shut down production if price falls below $200
When a monopolist sells positive levels of output, its demand curve:
A) lies below its marginal revenue curve. B) lies above its marginal revenue curve. C) and marginal revenue curve overlap D) is vertical while its marginal revenue curve is horizontal.