The ________ the sale of an additional unit of a product is a marginal benefit to the firm
A) total value of B) revenue received from
C) sales tax on D) extra cost of
B
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The slope of a curved line at a particular point is
A. always greater than the slope of a straight line at the same point. B. always smaller than the slope of a straight line at the same point. C. defined as the slope of the straight line representing the average values for the entire curve. D. defined as the slope of the straight line that is tangent to the curve at that point.
A monopoly is
A) a price taker. B) able to ignore the demand for its product when setting its price. C) able to set the price for its product. D) able to earn only a normal profit in the long run. E) a firm with no marginal revenue curve.
There is some agreement between the beliefs of President George W. Bush in 2001 on the effectiveness of tax cuts with the beliefs of former President
A. Keynes. B. Clinton. C. Reagan. D. Carter.
Economists develop theories of the ______________ of individuals (consumers, workers) and institutions (businesses, governments) engaged in the production, exchanged, and consumption of goods and services.
a. behavior b. demand c. interest d. investment