If the exchange rate falls from 120 yen per dollar to 100 yen per dollar, the dollar has ________ and the yen has ________

For a perfectly competitive firm, at profit maximization

A) production must occur where average cost is minimized. B) market price exceeds marginal cost. C) total revenue is maximized. D) marginal revenue equals marginal cost.

Which of the following is a valid argument for protection?

A) national defense B) fair trade C) creation of employment D) All of the above