If the exchange rate is such that $1 equals 20 Mexican pesos, then the price of a peso is

Generally speaking, income inequality is

A) higher in Europe than in the United States. B) higher in the United States than in most of the developing world. C) extremely high and does not vary much between nations in the developing world. D) higher in the developing world than in the developed world.

The point of profit maximization for a monopolist is exemplified by

A) TR = TC. B) MR = MC. C) ATCmin. D) MR > MC.