If the production function exhibits diminishing marginal product, the total cost function gets steeper as the quantity of output increases

When the exchange rate between the U.S. dollar and the euro changes from 1.00 euro per dollar to 1.30 euros per dollar, then the

A) euro has depreciated against the euro. B) U.S. dollar has depreciated against the euro. C) U.S. dollar has depreciated against the dollar. D) euro has appreciated against the dollar. E) U.S. dollar has appreciated against the euro.

Market consumer surplus

A) is the area under the demand curve and above market price, up to the quantity actually bought. B) is equal to total market revenue minus cost. C) does not depend on the quantity sold. D) is the area under the market price and above the marginal cost curve.