The individual firm's demand curve facing a monopoly is
A. the marginal cost curve above minimum average variable cost.
B. also the market demand curve.
C. nonexistent.
D. the summation of all perfectly competitive firms' demand curves.
Answer: B
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If the exchange rate changes from 20 cents per franc to 18 cents per franc, the U.S. dollar has
a. appreciated, since its value has increased b. appreciated, since its value has declined c. depreciated, making French goods more expensive in U.S. dollars d. depreciated, since its value has declined e. depreciated, since its value has increased
The variance of a distribution increases more than proportionately with the spread of the distribution because:
a. variance is a squared quantity. b. variance always lies at the center of the distribution. c. variance is half the value of mean. d. variance is closer to the maximum values.