This table represents the revenues faced by a monopolist.PriceQuantity SoldTotal RevenueAverage RevenueMarginal Revenue$1,0001$1,000 $9002$1,800 $8003$2,400 $7004$2,800 $6005$3,000 $5006$3,000 $4007$2,800 Using the information in the table shown, the average revenue for 5 units is:
A. $300
B. $600
C. $120
D. $3,000
Answer: B
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The monetary efficiency
A) loss from pegging the Norwegian krone to the euro (for example) will be higher if factors of production can migrate freely between Norway and the euro area. B) gain from pegging the Norwegian krone to the euro (for example) will be lower if factors of production can migrate freely between Norway and the euro area. C) gain from pegging the Norwegian krone to the euro (for example) will be higher if factors of production can not migrate freely between Norway and the euro area. D) gain from pegging say the Norwegian krone to the euro (for example) will be higher if factors of production can migrate freely between Norway and the euro area. E) gain or loss from pegging the Norwegian krone to the Euro cannot be predicted using the available information.
Coke and Pepsi are substitutes if
A) the demand for Coke increases when the price of Pepsi falls. B) the demand for Coke increases when the price of Pepsi rises. C) the supply of Coke increases when the price of Pepsi falls. D) the demand for Coke and Pepsi rise and fall together.
Table 17.1 YearReal GDPPopulation1$575 billion22 million2$580 billion24 million3$605 billion25 million4$606 billion27 millionRefer to Table 17.1. GDP per capita in year 1 was
A. $26.136 billion. B. $26,136.36. C. $26.136 million. D. $261,363.63.
The Board of governors of the Fed
A. are appointed by the House of Representatives. B. has 12 members. C. is headquartered in Washington, D.C. D. have a 7-year term.