Total revenue
A. can be calculated directly from the demand curve.
B. can be calculated directly from the average revenue curve.
C. is found by multiplying price times quantity.
D. All of the responses are correct.
Answer: D
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Because a monopolist must cut its price to increase its sales by one unit,
A. MR > P at every output level. B. MC > MR at every output level. C. P > MR at every output level. D. MC > P at every output level.
Supply-side inflation is the rise in price level caused by slow growth (or decline) of aggregate supply.
Answer the following statement true (T) or false (F)
That some schools direct females away from science and math courses is evidence of
a. labor-market discrimination b. discrimination that occurs prior to people entering the labor market c. discrimination by customers d. discrimination by employers
If a country had a trade deficit of $20 billion and then its exports rose by $7 billion and its imports fell by $10 billion, its net exports would now be
a. $37 billion b. $3 billion c. -$3 billion d. -$37 billion