Producing where marginal revenue equals marginal cost is equivalent to producing where
A) average total cost equals average revenue.
B) average fixed cost is minimized.
C) total revenue is equal to total cost.
D) total profit is maximized.
Answer: D
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The table below shows a pizzeria's fixed cost and variable cost at different levels of output. Pizza's sell for $20 each.Number ofPizzas Per DayFixed Cost($/Day)Variable Cost($/Day)050002550015050500250755004501005008501255001,650When the pizzeria makes 125 pizzas per day, its total revenue is:
A. $2,500 B. $125 C. $1,250 D. $20
The fact that high-income earners tend to earn a higher percentage of their incomes from rent and dividends, in contrast to low-income earners, make the payroll taxes
A. proportional. B. a flat tax. C. more progressive. D. more regressive.
Demand-pull inflation occurs
A) when the aggregate supply curve shifts to the right, while aggregate demand remains stable. B) when the aggregate demand curve shifts to the right, while aggregate supply remains stable. C) when the aggregate demand curve shifts to the left, while aggregate supply remains stable. D) when the aggregate supply curve shifts to the left, while aggregate demand remains stable.
Pessimists among the classical economists were least able to foresee the continual advancement in
a. managerial techniques b. technology c. birth control methods d. geographic discovery e. all of the above