For a firm in a perfectly competitive industry, price equals marginal revenue.
Answer the following statement true (T) or false (F)
True
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Suppose you purchase a new home for $300,000, making a down payment of 50% and taking out a mortgage on the balance. What is the return on your investment in your home if one year later the price of your home increases by 50%?
A) 0% B) 10% C) 50% D) 100%
The purchasing power of money increases when
A) the inflation rate increases. B) there is inflation. C) there is deflation. D) there are more dollars in the economy.
If a country begins to import a good,
a. it has a comparative advantage in producing that good b. it has a comparative advantage in consuming that good c. domestic consumers are made better off d. domestic producers are made better off e. both domestic consumers and domestic producers are harmed
Command-and-control policies lead to higher prices for consumers than pollution taxes do.
Answer the following statement true (T) or false (F)