Marginal revenue product is essentially the additional revenue generating from selling one additional unit of output
a. True
b. False
Indicate whether the statement is true or false
False
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The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). The current price is 35ยข per minute. What is the consumer surplus at the current price?
A) 924.5 B) 1075 C) 301 D) 1250
Which of the following is not true of monopolists?
a. The entry of new firms is not a major concern. b. Monopolists seek to maximize profits. c. Monopolists can charge any price they want and make a profit. d. Monopolists can choose any point on the market demand curve. e. Monopolists can raise price more than 10 percent.
Why does the U.S. government maintain a monopoly in the delivery of first-class mail? Does the Postal Service nevertheless face other forms of competition?
Which of the following is a loan that entitles the lender to get regular interest payments over time, and then to get back the principal at the end of the term of the loan?
A. A revolving credit account B. A mutual fund C. A share of stock D. A bond