The most popular definition of "profit" is
What will be an ideal response?
total revenue minus total cost.
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Which of the following is an example of a two-part tariff?
A) price discrimination based on the buyers' willingness to pay B) charging a hookup fee plus a monthly charge equal to marginal cost C) higher sales tax on specific products D) different prices based on the cost of production and quantity bought E) A regulated firm uses marginal cost pricing for some customers and average cost pricing for other customers.
On average, middle-aged people tend to have higher incomes than younger or older people do because: a. they receive more money from the government than younger or older people do. b. they are at an age where their productivity is at its peak
c. they participate in the labor force to a lesser extent than do the young or the old. d. they are subject to lower rates of taxation than are younger or older workers.
Which of the following will happen if country A's currency declines in value against other major currencies??
What will be an ideal response?
Under the bimetallic standard of the 19th century:
a. the amount of money in circulation increased. b. the American dollar served poorly as a unit of account. c. only one metal tended to circulate as money at any given time. d. the government earned profits by selling gold.