When a perfectly competitive firm sells additional units of output, ________, and when a monopolist sells additional units of output, ________.
A. marginal revenue stays the same; marginal revenue rises
B. total revenue rises; total revenue falls
C. total revenue does not change; total revenue rises
D. total revenue always rises; total revenue could rise, fall, or remain unchanged
Answer: D
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Investment spending is a potent force in the macroeconomy, because ________
A) it is subject to large fluctuations B) it is larger than other spending categories C) it is the focus of macroeconomic policies D) it expresses entrepreneurial talent
Competition can be beneficial in the public sector because _____
a. it leads to governments going out of business b. comparison gives some clue as to whether a government is operating efficiently c. it eliminates a prisoners' dilemma problem d. a and c
A price index shows
A) the current cost of a basket of goods. B) the relative price of necessities. C) the price of goods in the future. D) the cost of today's goods expressed in terms of the cost of goods in a base year.
The value of goods produced by coalition A is worth $50, and by coalition B is worth $30 . If together they produce $100 of them, the game is called superadditive
Indicate whether the statement is true or false