If a supplier sells 40 light bulbs and the total revenue from this sale is $120, then what is the average revenue?

a. $3
b. $80
c. $160
d. $4,800


a. $3

Economics

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Which of the following best represents the law of demand?

A) As the price of a good decreases, the demand for the good increases. B) As the price of a good increases, the quantity demanded of that good decreases. C) As the demand for a good increases, the price of that good increases. D) As the price of a good decreases, the demand curve for that good shifts to the right.

Economics

Which of the following combinations is plausible for a nation's balance of payments? (All numbers in billions.)

A) current account = 10, capital account = 40, official reserve transaction account = 50 B) current account = 40, capital account = 20, official reserve transaction account = -50 C) current account = 50, capital account = -30, official reserve transaction account = 20 D) current account = 30, capital account = -20, official reserve transaction account = -10

Economics

Which of the following markets are closest to perfectly competitive

a. The market for smart phones b. The market for generic pharmaceuticals c. The market for sport shoes d. The market for fast food

Economics

Which of the following is also known as the firm's planning curve?

a. the average total cost curve b. the total cost curve c. the long-run average cost curve d. the long-run marginal cost curve e. the fixed cost curve

Economics