The marginal revenue that would be derived from producing a fourth unit of output is
A. $20.
B. $16.
C. $12.
D. $8.
D. $8.
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Only about a quarter of the population eligible for housing subsidies actually receives them.
A. True B. False C. Uncertain
Economic profit is defined as
a. total revenue minus implicit costs b. total revenue plus explicit costs c. total revenue plus implicit costs d. wages plus interest minus rent e. total revenue minus implicit and explicit costs
Price discrimination is based on differences in ________ among groups of consumers and the differences in ________ that will result.
A. cross elasticities of demand; revenues B. price elasticities of demand; profits C. quantities supplied; marginal revenues D. income elasticities of demand; marginal costs
If government increases its tax revenues by $15 billion and the MPC is 2/3, then we can expect the equilibrium GDP to:
A. decrease by $30 billion. B. decrease by $45 billion. C. decrease by $35 billion. D. decrease by $55 billion.