When a firm is operating in a price-taker market, marginal revenue will always equal
a. average total cost.
b. one minus the elasticity of the market demand curve.
c. total revenue.
d. price.
D
You might also like to view...
A European option can only be exercised on the final day, the expiration date
Indicate whether the statement is true or false
In 2015 the Japanese adult non-institutionalized population was 110.7 million, the labor force was 66 million, and the number of people employed was 63.7 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about
a. 57.5% and 2.1% b. 57.5% and 3.5% c. 59.6% and 2.1% d. 59.6% and 3.5%
A couple constructs a decision matrix to select which charity will receive a $500 donation. Since "helping children" is the most important criteria to the couple, which of the following weights should it be assigned?
A. .325 B. .25 C. .60 D. .100
A clinic uses doctors and nurses optimally and is servicing the maximum number of patients given a limited annual payroll. The last doctor hired treated 1,600 extra patients in a year, while the last nurse hired treated 1,000 extra patients in a year. If doctors make $64,000 a year and nurses make $40,000 a year, then
A. the clinic is making the correct decision. B. the clinic is not making the correct decision because the additional patients per dollar spent on doctors is greater than the additional patients per dollar spent on nurses. C. the clinic could serve more patients by hiring more doctors and fewer nurses. D. the clinic could serve more patients by hiring fewer doctors and more nurses. E. a and d