Marginal profit equals the difference between marginal revenue and average cost.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Refer to the figure below. If P = $6, then the price elasticity of supply is: 
A. one B. positive, but less than one C. greater than one D. less than zero
Which of the following are examples of the gross private domestic investment component of GDP?
I. the purchase of production machinery by IBM II. an increase in the finished goods inventory at Intel A) I only B) II only C) both I and II D) neither I nor II
Electric car manufacturers want to sell more electric cars at a higher price. Which of the following events would have this effect?
A) an increase in the price of gasoline. B) technological advancement in the production of electric car batteries. C) an increase in the number of manufacturers of electric cars. D) a decrease in the price of lithium, which is used in the electric car batteries.
When a firm sells a given product at more than one price and the price difference is NOT caused by differences in cost then there is
A) price discrimination. B) price differentiation. C) price demarcation. D) price delineation.