Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the question.
The marginal revenue of the 100th unit is $________.
A. 20
B. 40
C. 50
D. 0
E. cannot tell from the information provided
Answer: B
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Which of the following is NOT a proposition of the Heckscher-Ohlin model?
A) A country has a comparative advantage in the production of that commodity which uses more intensively the country's more abundant resource. B) The effect of international trade is to tend to equalize factor prices between the trading nations. C) If Mexico is an unskilled labor abundant country, then Mexico has a comparative advantage in the production of goods that use unskilled labor more intensively. D) If the United States is a skilled labor abundant country, then the United States has a comparative advantage in the production of goods that use skilled labor more intensively. E) Countries will completely specialize in the product in which they have a comparative advantage if free trade is allowed to occur.
Under the rational expectations hypothesis, which of the following is the most likely short-run effect of a move to expansionary monetary policy?
a. A higher general level of prices but no change in real output b. A higher general level of prices and an expansion in real output c. No change in the general level of prices and a reduction in real output d. No change in either the general level of prices or real output
The ratio of the debt to GDP is a measure of the burden the debt places on the economy.
Answer the following statement true (T) or false (F)
The Federal Reserve System was created in:
A. 1926. B. 1946. C. 1895. D. 1913.