If the market price is $25 in a perfectly competitive market, the marginal revenue from selling the fifth unit is
A) $5. B) $12.50. C) $25. D) $125.
C
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Mark loves ice cream. At any point in time, he will buy an additional ice cream cone if
A) the marginal benefit from it exceeds the price. B) the marginal benefit from it is zero. C) his willingness to pay is less than the price. D) there is no deadweight loss produced by his purchase of a cone. E) None of the above answers is correct.
The tools, instruments, machines, and buildings that people use to produce goods and services are called human capital
Indicate whether the statement is true or false
In an open economy, total income is the sum of exports and imports
Indicate whether the statement is true or false
The distribution of tax burdens among various groups in society is referred to as
A) sectioning. B) regressive placement. C) zero-base budgeting. D) tax incidence.