The total revenue curve of a monopolist:
A) is positively sloped when marginal revenue is negative.
B) is negatively sloped when marginal revenue is negative.
C) is positively sloped when the marginal revenue curve is upward sloping.
D) is negatively sloped when the marginal revenue curve is downward sloping.
B
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Refer to the figure above. What price does the firm face in the market?
A) $2 B) $4 C) $6 D) $8
Market allocation and the political process differ in that
a. competition is present in the market sector but not in the political sector. b. scarcity is a constraint in the market sector but not the political sector. c. there is a one-to-one link between payment for and receipt of a good in the market sector, but this is often not true in the political sector. d. in the political sector, voters have a strong incentive to acquire information that will help them make better decisions, but in the market sector, consumers do not have much incentive to acquire information.
The Cub Scouts have so far sold 100 tickets for their upcoming raffle, but they sell a constant additional 12 tickets every day. After three more days of selling tickets, the stock of tickets sold will be ________, and the flow of tickets sold will be ________.
A. 136; 12 B. 136; 36 C. 36; 12 D. 100; 36
A country can have a trade deficit as long as it can:
A. produce more than it consumes. B. borrow from or sell assets to foreigners. C. purchase foreign assets. D. make loans to other countries.