An increase in the demand for the Brazilian real induces
A) an increase in the demand for Brazilian goods.
B) a decrease in the supply of dollars.
C) an increase in the real price of a dollar.
D) an increase in the dollar price of a real.
D
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If the price is less than a perfectly competitive firm's minimum average variable cost, the firm
A) makes an economic profit. B) operates and incurs an economic loss equal to total fixed cost. C) operates and incurs an economic loss equal to average variable cost. D) shuts down and incurs an economic loss equal to total fixed cost. E) shuts down and incurs an economic loss equal to average variable cost.
If an agent is risk neutral and a principal is risk averse, which of the following contracts would be efficient in risk bearing?
A) A fixed fee is paid to the agent. B) A fixed fee is paid to the principal. C) An hourly rate is paid to the agent. D) The agent enjoys a share of the profit.