If a yet-to-be released video game receives a positive review in a popular gaming magazine, what happens to the demand curve for the video game?
A) The demand curve is expected to shift to the right.
B) The demand curve is expected to shift to the left.
C) The demand curve is not expected to change.
D) For those who read the review, demand shifts to the left. For those who don't read the review, demand shifts to the right.
A
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Which of the following is a characteristic shared by a perfectly competitive firm and a monopoly?
A) Each sets a price for its product that will maximize its revenue. B) Each maximizes profits by producing a quantity for which price equals marginal cost. C) Each maximizes profits by producing a quantity for which marginal revenue equals marginal cost. D) Each must lower its price to sell more output.
Assuming the Marshall-Lerner condition holds and using the ZZ/Y and NX graphs, illustrate graphically and explain what effect a real depreciation will have on output, exports, imports, and net exports. Clearly label all curves and clearly label the initial and final equilibria
What will be an ideal response?