A firm in a perfectly competitive market structure
a. will advertise to shift its demand curve to the right
b. has a demand curve for its good that is perfectly vertical
c. cannot influence the price
d. has a demand curve for its good that is downward sloping
e. has a demand curve for its good that is upward sloping
C
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A decrease in U.S. interest rates relative to Japanese interest rates will
a. decrease the supply of dollars on the foreign exchange market b. increase the demand for dollars on the foreign exchange market c. increase the supply of dollars on the foreign exchange market d. cause the value of the dollar to appreciate e. cause U.S. exports to increase
Diamonds have a high marginal utility because they
a. are considered to be so useful b. have such high total utility c. have high consumer surplus d. are so scarce e. are so expensive