If a firm's demand curve slopes downward, the firm's
a. marginal revenue will rise as price is reduced
b. marginal revenue will generally be less than price
c. total revenue will decline continuously as price is reduced
d. marginal revenue will always be greater than its demand
e. average revenue will increase continuously as output increases
B
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A firm uses two inputs, A and B. At its optimal choice of input proportions,
A. MRP of A = MRP of B. B. MRPA/PA= MRPB/PB. C. MPP of A = MPP of B. D. All of the responses are correct.
The manager of Greene Enterprises, Inc., recently estimated its average variable cost (AVC) function to beAVC = 88 - 0.026Q + 0.000003Q2Greene Enterprises faces total fixed costs (TFC) of $300,000. At Greene Enterprises, average variable cost (AVC) reaches its minimum value at ________.
A. $43.33 B. $39.64 C. $28.00 D. $82.00 E. $31.67
Assume the real U.S. GDP in 1998 was $7,552 billion and the U.S. population was 270 million, and the real U.S. GDP in 2000 was $10 trillion and the U.S. population was 280 million. From 1998 to 2000, the per capita real GDP
A. Decreased. B. Remained unchanged. C. Increased then decreased. D. Increased.
Which of these Presidents increased top marginal income tax rates during his term in his office?
a. franklin d. roosevelt b. john f. kennedy c. ronal reagan d. george w. bush