When demand is unit elastic, a change in price will result in total revenue falling to zero.
Answer the following statement true (T) or false (F)
False
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For any constant-elasticity market demand curve, a monopolist is profit maximizing regardless of what quantity he produces so long as marginal costs are zero.
Answer the following statement true (T) or false (F)
Which of the following statements is TRUE?
A) If average product equals marginal product, average product decreases. B) If marginal product equals average product, average product is a maximum. C) If marginal product equals average product, marginal product is a maximum. D) If marginal product exceeds average product, marginal product increases.
Refer to Figure 12.4. Since the housing bubble burst and the economy returned to its initial, pre-bubble level before the corrective policy changed output, the economy actually moved from ________ after the bubble burst
A) point A to point B B) point B to point D C) point A to point C D) point C to point B
When Congress does not pass the necessary budget resolutions by the time the new fiscal year starts, they need to pass a ______ in order to keep agencies operating
a. budgetary extension b. continuing resolution c. continuing extension d. emergency budgetary declaration