A monopolist has equated marginal revenue to zero. The firm has:
A) maximized profit.
B) maximized revenue.
C) minimized cost.
D) minimized profit.
B
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In the presence of external economies of scale, trade
A) may or may not improve welfare in both countries. B) will unambiguously improves welfare in both countries. C) will unambiguously worsens welfare in both countries. D) will unambiguously worsen welfare in the exporting country and improve welfare in the importing country. E) will unambiguously improve welfare in the exporting country and worsen welfare in the importing country.
Holding other things constant, a depreciation of the US Dollar relative to the Kenyan Shilling would cause the demand for the Shilling to _____________ and the supply for Shilling to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease