What are the formulas for total revenue, average revenue, and marginal revenue
What will be an ideal response?
Total revenue equals price × quantity; average revenue = (total revenue)/quantity (and also equals price); marginal revenue = (change in total revenue)/(change in quantity).
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From 1789 to 1838, state banks
(a) served as financial intermediations and paid out paper money to borrowers. (b) were corporations. (c) engaged in agricultural activities. (d) established demand deposits against which checks could be written by the borrower.
Both an NBA basketball player and a fast-food cook are going to graduate school. Who has a higher opportunity cost? Explain
What will be an ideal response?
Based on the research findings of David Galenson, Robert Heavner and others, what type of person would you expect to negotiate an indenture contract of the longest duration?
a. a 13 year-old illiterate male who went to New York b. a 22 year-old female weaver who went to Massachusetts c. a 20 year-old male unskilled worker who went to the West Indies d. a 21 year-old male blacksmith who went to the Pennsylvania
Economists usually suggest that the best way to examine the deficit is by expressing it:
A. in nominal terms. B. as a percentage of GDP. C. in real terms. D. None of these is true.