How will a decrease in price affect a firm's revenues?
A) It depends on the price elasticity of demand.
B) Revenues will stay the same.
C) Revenues will decrease.
D) Revenues will increase.
A
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If an increase in the price of one input causes an increase in demand for labor, the two inputs are
A) complementary. B) substitutes. C) interchangeable. D) flexible.
In a competitive market economy, a resource in short supply will be allocated
a. so that each firm gets enough to keep producing some portion of its output. b. according to how much each firm purchased before the shortage. c. to those firms that can make the most profitable use of it. d. by government fiat.
The airline industry is best classified? as:
A) an oligopoly.
B) a monopoly.
C) perfectly competitive.
D) monopolistically competitive
Which of the following countries engages in a fixed exchange rate policy?
A. The U.S. B. Japan C. The United Kingdom D. China