Average revenue for a perfectly competitive firm is equal to
a. price times output
b. marginal revenue
c. total revenue/marginal revenue
d. output/total revenue
e. zero
B
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If the manager of a nonprofit enterprise sets prices below market clearing levels, she
A) increases the net revenue of the enterprise. B) provides herself with control over a valuable good. C) reduces her personal popularity. D) produces all of the above consequences.
A nominal exchange rate is unadjusted for aggregate price levels
a. True b. False Indicate whether the statement is true or false
According to David Galenson, individuals do their most creative work during their_______
A) teens, 20s, and 30s, B) 20s, 30s, and 40s C) 40s, 50s, and 60s D) 30s, 40s, and 50s E) teens, 30s, and 60s
Producer surplus equals total revenue minus the sum of all marginal cost
Indicate whether the statement is true or false