If You Are Looking at an Indirect Quote for a U.S.Dollar

question 47

Multiple Choice

If you are looking at an indirect quote for a U.S.Dollar -foreign currency exchange rate and the number has increased from yesterday to today,then

• A) the U.S Dollar has increased in value.
• B) the U.S Dollar has decreased in value.
• C) the foreign currency has decreased in value.
• D) both a and c are correct.

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Definitions:

Marginal Revenue

The profit made by selling one more unit of a product or service.

Average Revenue

The amount of revenue generated per unit of output sold, calculated by dividing total revenue by the quantity sold.

Nondiscriminating Pure Monopolist

A market player who is the sole seller of a product or service but charges a single price to all customers without price discrimination.