In Connecticut, the apple market is perfectly competitive. Suppose that consumer tastes change so that the market demand for apples increases. In that case, the demand curves faced by individual firms will

Opportunity cost is

A. the financial cost of purchasing a good or services B. the marginal benefit minus the marginal cost C. the expected value of buying a good or service D. the value of the opportunity that you give up when you choose one activity instead of another one

The government of a country decides it long-run exchange rate and intervenes regularly in the foreign exchange market to keep the exchange rate at its fixed level. The country is most likely to have a ________

A) fixed exchange rate system B) dirty-float exchange rate system C) real exchange rate system D) floating exchange rate system