If a firm that is losing money and that has variable costs of $2,000,000 continues to operate, we may conclude that its total revenue is __________.
Fill in the blank(s) with the appropriate word(s).
more than $2,000,000
You might also like to view...
Mechanisms that manufacturers can use to deal with misaligned retailer incentives include
a. setting a minimum retail price b. providing an exclusive contract to a single retailed in a market c. compensating retailers' sales staff for demonstrating, as well as selling, the product d. All of the above
If a shortage exists in a market, the natural tendency is for:
A. price to increase. B. quantity supplied to decrease. C. demand to increase. D. no change in the market.
In nondemocratic countries that have experienced consistent economic growth and improvements in their standards of living
A. there is a tendency to become democratic over time. B. the rise of special-interest groups usually promotes competition and growth. C. there is no tendency to become more democratic over time because the current political situation is economically successful. D. political freedom is apt to decrease over time as governments become more controlling.
Economists are most likely to suggest that societies address the inefficiencies created by negative externalities by:
A. voluntary conservation. B. direct regulation. C. making the price people pay reflect the cost of the externality. D. leaving environmental problems alone so that the market can deal effectively with them.