Author Question: A perfectly competitive industry has a. A perfectly elastic demand curve b. A perfectly elastic ... (Read 723 times)

evelyn o bentley · **on:** Jul 1, 2018

A perfectly competitive industry has
a. A perfectly elastic demand curve
b. A perfectly elastic supply curve
c. A downward sloping demand curve
d. A downward sloping supply curve

Question 2

If the British pound () appreciates by 10 against the dollar:
a. both the US importers from Britain and US exporters to Britain will be helped by the appreciating pound.
b. the US exporters will find it harder to sell to foreign customers in Britain.
c. the US importer of British goods will tend to find that their cost of goods rises, hurting its bottom line.
d. both US importers of British goods and exporters to Britain will be unaffected by changes in foreign exchange rates.
e. all of the above.