When the price of a good is a constant, the marginal revenue per unit of output is the same as:
a. total revenue.
b. average total cost.
c. price.
d. quantity of output.
e. profit per unit.
c
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If the nominal interest rate for Treasury bonds is 8% and the risk-free rate is 3%, the expected inflation rate must be:
a. 3% nominal interest b. 5% for Treasury bonds c. 11% d. cannot be determined without additional information
As economic development in LDCs progresses,
A. children become an increasingly valuable economic asset. B. the birth rate eventually declines. C. consumption rises faster than production. D. fewer children survive to adulthood.
The short-run aggregate supply curve:
A. ?Is a schedule showing the relationship between the price level and the quantity of real GDP supplied. B. ?Is typically upward sloping. C. reflects output prices changing relative to input prices. D. ?all of the above
Different firms in a competitive industry will have differing shutdown points when
a. they have different cost curves. b. they are charging different prices. c. they entered the industry at different times. d. they all have identical cost curves.