In pure competition, marginal revenue is:
A. equal to total revenue.
B. less than product price.
C. equal to product price.
D. greater than product price.
Answer: C
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The monetarist and the Keynesian approaches are two competing theories of aggregate demand.
Answer the following statement true (T) or false (F)
If the value of a dollar rises in terms of yen, the dollar has ________ and the yen has ________
A) appreciated; appreciated B) appreciated; depreciated C) depreciated; appreciated D) depreciated; depreciated
________: a measure of the economic rent or returns above costs accruing to businesses participating in a market during the current period
Fill in the blank(s) with correct word