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Author Question: Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic ... (Read 166 times)

joblessjake

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on: Jun 30, 2018
Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic market relative to that in the United States. What will be the impact of this price difference?
 a. Beer production in Munich will decline.
  b. Price of beer in the domestic market will increase.
  c. Beer production in the U.S. will increase.
  d. Beer consumption in the domestic market will increase.

Question 2

The profit of a perfectly competitive firm is maximized at a level of output where its marginal cost is rising.
 a. True
  b. False
  Indicate whether the statement is true or false


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ambernicolefink

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

True


joblessjake

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Reply #2 on: Jun 30, 2018
Thank you :)


ambernicolefink

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Reply #3 on: Jun 30, 2018
Happy to help you


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