Which of the following is true of marginal revenue for a monopolist that charges a single price?
a. P=MR because there are no close substitutes for the monopolist's product.
b. P>MR because the monopolist must decrease price on all units sold in order to sell an additional unit.
c. P
b
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When the expected dollar-euro exchange rate rises, the domestic dollar return curve shifts:
a. in. b. out. c. not at all. d. Not enough information is provided to answer the question.
In the extended analysis of aggregate supply, the short-run aggregate supply curve is:
A. vertical and the long-run aggregate supply curve is horizontal. B. horizontal and the long-run aggregate supply curve is vertical. C. upsloping and the long-run aggregate supply curve is vertical. D. horizontal and the long-run aggregate supply curve is upsloping.