If price is cut and demand is inelastic, then
A) total revenue will fall.
B) total revenue will not change.
C) quantity demanded will fall
D) total revenue will rise.
A
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Daryl's Inc has formed a cartel with the two other firms in its industry. In which of the following market structures does Daryl's operate?
A) monopolistic competition B) oligopoly C) perfect competition D) monopoly E) legally protected monopoly
A decrease in the marginal product of labor would be represented by a(n):
a. increase in labor demand. b. decrease in labor demand. c. increase in the quantity demanded of labor. d. decrease in the quantity demanded of labor. e. increase in wages.
Proponents of a balanced budget amendment argue that the private advantages that each of us realizes from spending on our government programs are paid for almost entirely by other taxpayers
a. True b. False Indicate whether the statement is true or false
Agreeing to iron your roommates shirts while she types up the paper you have written is an example of which of the following:
a. Barter b. Opportunity Cost c. Sunk Cost d. Absolute Advantage