Total revenue divided by quantity is
A) average revenue.
B) marginal revenue.
C) quantity revenue.
D) price revenue.
A
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Cooperation:
A. is a mixed strategy. B. fails when the temptation to cheat is sufficiently strong. C. eliminates the temptation to cheat. D. is always a Nash equilibrium.
Which of the following best describes the relationship between the velocity of money and the demand for money?
a. The demand for money is not related to the velocity of money. b. When the demand for money increases, the velocity of money increases. c. The demand for money must be stable for the velocity of money to increase. d. When the demand for money declines, the velocity of money increases.
Which of the following statements is false?
A) Corporations can issue stocks and bonds, while proprietorships cannot. B) Corporations have one owner, while proprietorships have many owners. C) Corporations face more taxes than do proprietorships. D) Proprietorships have unlimited liability while corporations have limited liability.
Refer to the total revenue graph below. If the quantity of product X demanded falls from 14,000 to 10,000 units, then it suggests that the price of X was:
A. Reduced and the demand is elastic
B. Increased and the demand is elastic
C. Reduced and the demand is inelastic
D. Increased and the demand is inelastic