If the dollar's value changes from 120 yen per dollar to 110 yen per dollar, the dollar has

In the above figure, if a subsidy is granted to producers that generates an efficient allocation of resources, then producers will receive a total amount (price plus subsidy) equal to

A) $20 per unit. B) $15 per unit. C) $10 per unit. D) $5 per unit.

A firm can maximize profits in the short run by producing output where

a. MC = MR and the MC curve crosses the MR curve from above (as long as P>AVC) b. TC = TR c. MR - MC = TR - TC d. MC = MR and the MC curve crosses the MR curve from below (as long as P>AVC) e. TR = TC and the TC curve crosses the TR curve from below