Whenever a decrease in output leads to an increase in profit, the
a. marginal revenue curve lies above the marginal cost curve
b. total cost curve intersects the total revenue curve
c. marginal cost curve is parallel to the marginal revenue curve
d. marginal cost curve lies above the marginal revenue curve
e. total cost curve lies above the total revenue curve
D
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The present value of $475 received 3 years in the future would be calculated as which of the following when the interest rate is 6 percent?
A) 475 × 1.6 × 3 B) 475/(1.6)3 C) 475/(1.06)3 D) 3.06/475
A ________ is a firm that faces a given market price and whose actions have no effect on that market price
a. monopoly b. dominant firm c. price taker d. price maker
_____ Act set forth a list of "employers' rights."
A. Both the Taft-Hartley and the National Labor Relations B. Neither the Taft-Hartley nor the National Labor Relations C. The Taft-Hartley, but not the National Labor Relations D. The AFL, but not the Knights of Labor
Medicaid is a health insurance program for the aged and certain disabled persons.
Answer the following statement true (T) or false (F)