For a perfect competitor, price equals
A) marginal revenue only.
B) average revenue only.
C) both average revenue and marginal revenue.
D) neither marginal revenue nor average revenue.
Answer: C
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If two variables B and V are negatively correlated, B ________ when V ________
A) goes up; goes down B) goes up; goes up C) goes down; goes down D) remains unchanged; goes down
If we were on Lorenz curve M, the top income quintile receives about _____% of income.
A. 24
B. 40
C. 58
D. 80
The Buy America Act of 1933 mandates that
A. household consumers buying more of local products will be given suitable tax incentives. B. the sales taxes on goods manufactured by the local labor force must be lower than the sales taxes on goods manufactured by immigrant workers. C. purchases funded by the U.S. government must favor domestic products. D. durable goods produced locally must be priced lower than comparable imported goods.
A recent study by Isabel Sawhill and Ron Haskins of the Brookings Institution found that a person could reduce their chances of living in poverty from 12 percent to 2 percent by