If the dollars per pound exchange rate falls, there is a(n)
a. rightward movement along a single supply of pounds curve
b. leftward movement along a single supply of pounds curve
c. leftward shift of the supply of pounds curve
d. rightward shift of the U.S. supply of pounds curve
e. tendency for the U.S. supply of pounds curve to become steeper
B
Economics
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A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. At its profit maximizing output level, the monopoly's average cost is
A) 11. B) 13. C) 17. D) 21.5.
Economics
Entry into a competitive market will continue until
A) economic profits are zero. B) normal profits are zero. C) when accounting losses are zero. D) a. and b. are true
Economics