For a perfectly competitive firm
A. marginal revenue will graph as an upwardly sloping line.
B. the demand curve will lie above the marginal revenue curve.
C. the marginal revenue curve will lie above the demand curve.
D. the demand and marginal revenue curves are identical.
D. the demand and marginal revenue curves are identical.
You might also like to view...
If the money wage rate and other resource prices do not change when the price level rises by 10 percent, ________
A) the long-run aggregate supply curve shifts leftward B) the short-run aggregate supply curve shifts leftward C) the long-run aggregate supply curve shifts rightward D) there is movement along the short-run aggregate supply curve
A discount bond selling for $15,000 with a face value of $20,000 in one year has a yield to maturity of
A) 3 percent. B) 20 percent. C) 25 percent. D) 33.3 percent.
As long as average revenue remains above average total cost:
A. total revenue will be higher than total cost. B. the firm will be making profits. C. price will be greater than average total cost. D. All of these are true.
If the economy has substantial unemployment, then the inflationary costs of expansionary policy are likely to be: a. low, and the unemployment gains minimal. b. low, and the unemployment gains large
c. high, and the unemployment gains minimal. d. high, and the unemployment gains large.