Based on the demand and marginal revenue curves for the monopolist, which formula is correct?
a. marginal revenue > price
b. marginal revenue < price
c. marginal revenue = price
d. marginal revenue – price = average revenue
b. marginal revenue < price
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Refer to the figure above. What is the revenue of the firm when it sells the profit-maximizing level of output?
A) $40 B) $160 C) $180 D) $240
The aggregate expenditure in an open economy is defined as:
A) E = C + I + G. B) E = C + I + G + X. C) E = C × I × G × X - M. D) E = C + I + G + X - M.
Elasticities of demand for labor and for the good that is being produced are related because
a. the MRP curves reflect the demand elasticity of the good b. unions try to raise demand elasticities c. monopsonists are always monopolists d. it is a company town e. there is one price for both
Fran buys 1,000 shares of stock issued by Miller Brewing. In turn, Miller uses the funds to buy new machinery for one of its breweries
a. Fran and Miller are both investing. b. Fran and Miller are both saving. c. Fran is investing; Miller is saving. d. Fran is saving; Miller is investing.