The ________ the sale of an additional unit of a product is a marginal benefit to the firm
A) revenue received from
B) extra cost of
C) total value of
D) sales tax on
Answer: A
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When a single firm can supply a product to an entire market at a lower cost than could two or more firms, the industry is called a
a. resource industry. b. exclusive industry. c. government monopoly. d. natural monopoly.
How does a firm calculate its profit?
(A) Total revenue minus total cost. (B) Variable cost plus total cost. (C) Marginal revenue minus marginal cost. (D) Total revenue minus marginal revenue.
Which of the following financial instruments is used mainly to transfer risk?
A. Options B. Asset-backed securities C. Stocks D. Bonds
When aggregate demand meets aggregate supply in the horizontal portion of the aggregate supply curve,
A) a decrease in demand will cause prices to rise but no change in output. B) a decrease in demand will cause output to rise but no change in prices. C) a decrease in demand will cause prices to fall but no change in output. D) a decrease in demand will cause output to fall but no change in prices.