Negative marginal revenue means that
a. the firm is maximizing its economic profit
b. the firm is maximizing its total revenue
c. total revenue is increasing at an increasing rate as output increases
d. total revenue is increasing at a decreasing rate as output increases
e. total revenue is decreasing as output increases
E
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If different people own the different stages of production of a commodity, a contract or market relationship helps to minimize transaction risks and creates economic value
Indicate whether the statement is true or false
Net export spending is expenditures on:
A. goods and services by federal, state, and local governments. B. goods and services sold abroad minus goods and services produced abroad. C. stocks, bonds, and other financial instruments. D. consumer durables, nondurables, and services.
A movement from point F to point D in Figure 1.3 results in
A. More efficient production. B. A reallocation of resources from broom production to mop production. C. Permanent unemployment of workers producing brooms. D. A reallocation of resources from mop production to broom production.
Most app developers have adopted the business model of
A) charging a small fee for their apps to be downloaded. B) allowing their apps to be downloaded and used for free, while trying to still earn money from users. C) charging a between $1.99 and $2.99 for their apps to be downloaded. D) allowing their apps to be downloaded to one device for free, but charging a high price for the apps to be downloaded to additional devices.