If a firm's total revenue is $112 when it sells 16 units, $119 when it sells 17 units and $126 when it sells 18 units, then the firm is:
A. an imperfectly competitive firm.
B. only an imperfectly competitive firm if it sets MR=MC.
C. either a perfectly or imperfectly competitive firm.
D. a perfectly competitive firm.
Answer: D
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Answer the following statement true (T) or false (F)
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The CPI (using a 2000 base year) for 1965 is 26.0 . Suppose a household's annual take-home pay in 1965 was $8,320 . What would be an equivalent home pay in 2000?
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