The addition to total revenue resulting from one more unit of output is called marginal revenue.
Answer the following statement true (T) or false (F)
True
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Two emerging trends in 1990s macroeconomic thinking are that fiscal policy should be designed according to its ________ consequences and that monetary aggregates ________ useful in the conduct of monetary policy
A) short-run stabilization, are no longer B) short-run stabilization, continue to be C) long-run growth, are no longer D) long-run growth, continue to be
Why does the price level in a perfectly competitive market move toward the zero-profit point?
a. Because firms enter and exit the market in response to gains and losses b. Because short-run losses reverse the effects of long-run gains c. Because profitable firms increase short-run productivity d. Because firms operate below the average cost curve
What happens to each of the following if the supply of loanable funds shifts right? A. the interest rate B. net capital outflow C. the exchange rate
A firm will maximize the present value of future profits by maximizing current profits when the:
A. growth rate and interest rate are constant and equal. B. interest rate is larger than the growth rate in profits and both are constant. C. growth rate in profits is larger than the interest rate. D. growth rate in profits is constant.