Given the data in the above table, the marginal revenue curve

A) lies below the demand curve.
B) lies above the demand curve.
C) intersects the demand curve.
D) is equal to the demand curve.


A

Economics

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Fill in the blank(s) with correct word

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In a perfectly competitive market, the average revenue curve of a firm is

A) the same as its total revenue curve. B) the same as its demand curve. C) the same its economic profits. D) the difference between its total revenue curve and its marginal revenue curve.

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If society is producing a combination of goods on its production possibilities frontier

a. it must be employing all available resources. b. it must be growing. c. it is using all the available natural resources but may not be using all available labor resources. d. Both a and b.

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Food stamps and Medicaid are in-kind transfer programs

a. True b. False

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