Suppose a single-price monopoly sells 3 units of a good at $20 per unit. If the monopoly sells 4 units, the total revenue increases to $72. What is the marginal revenue of the fourth unit?
A) $52
B) $18
C) $60
D) $12
E) $20
D
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Which group came out of World War I (1914–18) better off?
(a) Industrial and agricultural workers (b) Creditors (c) Individuals depending on investment (d) People living on fixed incomes
Movements of workers from country to country can cause shifts in the labor supply curves for both countries
a. True b. False Indicate whether the statement is true or false
The Marshall-Lerner condition is less likely to hold when
A) imports and exports are very price-sensitive. B) the trade deficit is large. C) the marginal propensity to consume is very large. D) the marginal propensity to consume if very small. E) none of the above
An industry whose total output can be increased without a change in long-run per-unit costs is a(n)
A) increasing-cost industry. B) constant-cost industry. C) zero-cost industry. D) decreasing-cost industry.