Given demand, the price is found where
A) consumer surplus is maximized.
B) average costs equal price.
C) price equals marginal revenue.
D) marginal revenue equals marginal cost.
D
You might also like to view...
Suppose that Brazil is capital abundant and Chile is natural resource abundant. If timber is natural resource intensive and computers are capital intensive, then
A) Chile will produce more computers after trade begins with Brazil. B) Brazil will produce more timber after trade begins with Chile. C) Chile will produce more timber after trade begins with Brazil. D) Brazil will completely specialize in computers once trade begins with Chile.
Which bond would someone in a 35% tax bracket choose to buy: a municipal bond with an interest rate of 7% or a corporate bond with an interest rate of 10%?
What will be an ideal response?
Rising prices will discourage consumption and encourage conservation
a. True b. False Indicate whether the statement is true or false
Each of the following took place in the 1930s EXCEPT
A. the collapse of the entire international financial structure. B. a drought that became known as the Dust Bowl wiped out millions of farmers. C. all of the nation's banks were closed in the first week of March 1933. D. the fulfillment of the promise: "two cars in every garage" and "a chicken in every pot".