Average revenue is equal to
A. TR/Q.
B. (P × Q)/P.
C. TR × Q.
D. All of the responses are correct.
Answer: A
You might also like to view...
Actions to lower the probability of a bad outcome ________ its expected cost and these actions are ________.
A) increase; inexpensive B) decrease; costly C) decrease; inexpensive D) increase; costly
Economic growth can be achieved through
A. a decrease in the supply of labor. B. a decrease in the labor force participation rate.. C. an increase in the production of capital goods. D. a reduction in expenditures on research and development.
One basic difference between "land" and "capital" resources is that land is
A. a gift of nature, while capital is manufactured. B. manufactured, while capital is a gift of nature. C. unlimited, while capital is limited. D. limited, while capital is unlimited.
A typical wheat farmer would never consider cost-plus-markup pricing because
A) he cannot clearly estimate his costs. B) the most profitable price he can ask for is the prevailing market price. C) the government won't allow it. D) he is a price searcher.