Which of the following statements is true about revenue?
A) Revenue is the total amount received for selling a good or service.
B) Revenue is calculated by dividing the price per unit by the number of units sold.
C) The terms "revenue" and "profit" can be used interchangeably.
D) A firm's revenue will increase as its costs increase.
Answer: A
You might also like to view...
Cartels are inherently unstable
a. True b. False
When demand is inelastic,
A) price and revenue move in opposite directions. B) price and revenue are not related. C) price and quantity demanded move in opposite directions. D) price and revenue move in the same direction.
With regard to the economy, the term negative inflation is synonymous with which of the following?
a. recession b. depression c. deflation d. hyperinflation
In the basic model with an AD and LRAS curve only, if spending growth is 10% and the Solow growth rate falls from 5% to 3%, then inflation will:
What will be an ideal response?