In the case of the perfectly competitive firm:
A) marginal revenue equals the market price.
B) marginal revenue is greater than the market price.
C) marginal revenue is less than the market price.
D) marginal revenue is equal to, less than, or greater than market price depending on the level of output.
A
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What most accurately describes imperialism between 1870 and 1917?
a. The US was the leading imperialist nation in the late 19th century. b. The US was primarily concerned about expanding freedom in relatively poor nations in Africa. c. The "Roosevelt Corollary" and the Monroe Doctrine were the primary documents that outline the US foreign policy. d. European nations like England and France oriented their annexation efforts toward Latin America.
If a nation imposes a tariff on imports, the portion of the tax paid by citizens depends upon
A. elasticity of demand. B. elasticity of supply. C. how important the good is. D. income elasticity. E. cross elasticity of demand with domestic products.
Scarcity of resources implies that people must make decisions consistent with the means they have available to them
a. True b. False Indicate whether the statement is true or false
Deflation is an overall:
A. decline in prices in the economy. B. rise in prices in the economy. C. decline in prices in the economy, excluding those with historically volatile price changes. D. rise in prices in the economy, excluding those with historically volatile price changes.