Marginal profit is the addition to a firm's total profit from a
a. $1 change in its price.
b. one-unit change in its output.
c. reduction in total cost.
d. reduction in marginal cost.
b
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Foreign purchases of stocks and bonds issued by U.S. corporations ________ between 1995 and 2007 and ________ in 2014
A) decreased slightly; increased slightly B) increased at a slow but steady pace; increased dramatically C) remained stagnant; declined sharply D) increased dramatically; declined
About one out of every _______ whites is poor.
Fill in the blank(s) with the appropriate word(s).
The differences in the ratios of exports to GDP across countries are believed to be caused primarily by
A) trade barriers. B) each country's size. C) geography. D) all of the above E) both B and C
For a perfectly competitive firm, which of the following is NOT true?
A. The total revenue curve is horizontal. B. The total revenue curve begins at the origin and slopes upward as output increases. C. The slope of the total revenue curve is equal to the product price. D. The average revenue curve, the demand and the marginal revenue curves are identical.