Under perfect competition, which of the following are the same (equal) at all levels of output?
a. Price and marginal cost.
b. Price and marginal revenue.
c. Marginal cost and marginal revenue.
d. All of these.
b
You might also like to view...
People hold money as opposed to financial assets because money
A) earns interest. B) earns no interest. C) is perfectly liquid. D) earns a higher return than other financial assets.
If a country has a high level of income, it:
A. has large amounts of physical and human capital. B. must be maintaining all natural resources. C. must be rapidly increasing its income each year. D. must be increasing all its natural resources.
Refer to Table 4.3. After calculating the price elasticity of demand for computers, we can say the demand for computers is:
A. upward sloping. B. inelastic. C. unit elastic. D. elastic.
Which of the following is the most common form of a business organization?
A) corporation B) partnership C) sole proprietorship D) subchapter S corporation