A price-taking firm's marginal revenue is ______ the price of its output.
A. equal to
B. greater than
C. less than
D. less than or equal to
A. equal to
You might also like to view...
The employment-to-population ratio is
A) 67 percent. B) 64 percent. C) 50 percent. D) 62 percent.
This market situation is much like a pure monopoly except that its member firms tend to cheat on agreed upon price and output strategies. What is it?
A) Duopoly B) Cartel C) Market sharing monopoly D) Natural monopoly
In order to analyze migration in the long run, it is appropriate to use:
a. the specificfactors model with free movement of labor across borders. b. the HeckscherOhlin model with free movement of labor across borders. c. the Ricardian model with no movement of labor across borders. d. the PPF modified for three goods, three factors of production (all fixed), and three nations.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward