Along the purely competitive firm's demand curve, average revenue is equal to marginal revenue.
Answer the following statement true (T) or false (F)
True
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A speculative bubble causes
a. current prices to sink artificially low. b. current prices to rise artificially high. c. no current price changes, only possible future changes. d. undervaluing of stock prices.
Wayne's Jacket Shop sells Wayne's jackets for $20 each. Wayne finds that his total revenues change according to the number of workers he hires, as shown in the table below.WorkersTotal Revenue1$1,00021,40032,00041,6005800What is the marginal revenue product of the fifth worker?
A. $400 B. -$800 C. $160 D. $2
If the price of a soda was 15 cents in 1970, when the CPI was 50, and 50 cents in 2007 when the CPI was 172, then the real price of
A) a soda has risen 567 percent. B) a soda has risen 350 percent. C) the 1970 soda in 2007 dollars is 52 cents. D) the 2007 soda in 1970 dollars is $3.44. E) the soda was 15 cents in 1970 and 50 cents in 2007.
A recession normally causes ________ in government net tax revenues, ________ the budget deficit is an example of ________ automatic stabilization
A) an increase, increasing, the working of B) an increase, decreasing, a failure of C) a decrease, decreasing, the working of D) a decrease, increasing, a failure of E) a decrease, increasing, the working of