Which of the following is true for a firm with a downward-sloping demand curve for its product?
A) Price, average revenue, and marginal revenue are all equal.
B) Price, average revenue, and marginal revenue are all different.
C) Price equals average revenue but is greater than marginal revenue.
D) Price equals average revenue but is less than marginal revenue.
Answer: C
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Refer to the table above. The private sector balance is a
A) $700 billion surplus. B) $400 billion deficit. C) $700 billion deficit. D) $2,900 billion deficit. E) $2,900 billion surplus.
Which of the following was NOT cited as contributing to unusual uncertainty having an adverse effect on aggregate supply?
A) the possibility that Congress may let the 2001, 2003 tax cuts to expire B) the Fed's limited use of monetary policy in fighting the recession C) the severity of the financial crisis D) concern that the Affordable Care Act would increase the cost of hiring workers
Which of the following terms describes the process of buying and selling goods or currencies across international borders at a profit?
a. purchasing power parity b. exchange c. profiteering d. arbitrage
(Last Word) In their effort to provide disaster relief after Hurricane Katrina, the Federal Emergency Management Agency (FEMA) made payouts on as many as 900,000 claims with invalid Social Security numbers or false names and addresses. This example
illustrates: A. the benefits-received principle. B. logrolling. C. bureaucratic inefficiency. D. the problem of limited and bundled choices.