To find a firm’s total revenue at every quantity, all you need to know is
A. the demand curve for its product.
B. the demand curve for its product and its total cost.
C. its profit-maximizing price and quantity.
D. its total profit curve.
Answer: A
You might also like to view...
If the government implements a tax on the general public to pay for street lighting in one neighborhood,
A) the tax redistributes well-being and the benevolent social planner is not pleased. B) the tax redistributes well-being, but the benevolent social planner is pleased. C) the tax reduces well being and the benevolent social planner is not pleased. D) the tax has no bearing on well-being and the benevolent social planner is indifferent.
The firm in the figure above is in monopolistic competition. It will set a price equal to
A) $1. B) $2. C) $3. D) more than $3.
What is a household's choice set defined as?
What will be an ideal response?
Which of the following statements is NOT true for a perfectly competitive firm?
A) A firm's demand curve is horizontal. B) The firm can influence its demand curve by advertising its product. C) The firm's demand curve is perfectly elastic. D) The market demand and supply curves determine the market price.