When marginal revenue is zero:
A. total cost is minimized.
B. total revenue is maximized.
C. elasticity of demand is zero.
D. profit is maximized.
Answer: B
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Voting against ones preferences in the initial round of a runoff election in order to prevent the selection of an undesirable alternative in the final round is called
A) ballot manipulation. B) strategic voting. C) naive voting. D) the voting paradox.
Which of the following is not a principal method of financing today?
A) common stock B) bond C) reinvestment D) the entrepreneur's wealth
If the Fed buys $5 million in government bonds, how much will the money supply change?
a. It will increase by $5 million. b. It will increase by more than $5 million. c. It will decrease by $5 million. d. It will decrease by more than $5 million.
Exhibit 2-2 Production possibilities curve
In Exhibit 2-2, the opportunity cost of coffee when moving from A to B is:
A. the same as moving from A to C. B. the same as moving from A to D. C. the same as moving from B to D. D. the same as moving from B to C.