Author Question: Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic ... (Read 151 times)

joblessjake · **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

ambernicolefink · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

B

Answer to Question 2

True

joblessjake · **Reply #2 on:** Jun 30, 2018

Thank you

ambernicolefink · **Reply #3 on:** Jun 30, 2018

Happy to help you

Author Question: Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic ... (Read 151 times)

joblessjake

Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic ...

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ambernicolefink

Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic ...

joblessjake

Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic ...

ambernicolefink

Suppose beer producers in Munich became aware of the low price of one barrel of beer in the domestic ...