Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the question.
The price at which total revenue is maximized is $________.
A. 10
B. 20
C. 30
D. 15
E. 25
Answer: E
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A firm has an incentive to decrease supply now and increase supply in the future if it expects that
A) the price of its product will be lower in the future than it is today. B) more firms will enter the market in the future. C) the price of its product will be higher in the future than it is today. D) the prices of inputs used to produce the product will rise in the future.
A lottery game pays $500 with .001 probability and $0 otherwise. The variance of the payout is
A) 15.8. B) 249.50. C) 249.75. D) 499.
How is the quantity theory of money different from the quantity equation and why must the quantity equation always be true?
What will be an ideal response?
If the Swiss price level fell relative to the British price level, there would be
a. a rightward movement along the supply of British pounds curve in the franc-pound market b. a leftward movement along the supply of British pounds curve in the franc-pound market c. a rightward shift of the supply of British pounds curve in the franc-pound market d. a leftward shift of the supply of British pounds curve in the franc-pound market e. no change of the supply of British pounds curve in the franc-pound market