In the above figure, the slope across the arc between b and d is
A) 1/2.
B) 1/3.
C) 5/3.
D) 6/5.
C
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As a perfectly competitive firm's output increases, its total revenue ________ and its total cost ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change; increases
Which of the following is most likely to lead to government intervention in the form of price ceilings?
a. advertising b. war c. growth in consumer income d. technological advance in agriculture e. lower resource costs
What happens in graph 2 that causes d1,mr1 to move to d2,mr2 in graph 1?
a. Demand stabilizes.
b. Price increases.
c. Supply increases.
d. Quantity decreases.
The idea that any public information you will be able to find will prove of little value to you when buying and selling stocks, because that information is so quickly incorporated into the trading prices of stocks, is known as the
A. principle of context. B. over-the-counter hypothesis. C. theory of fundamental analysis. D. theory of efficient markets.