For a perfect competitor, marginal revenue equals
A) the slope of the demand curve.
B) average revenue divided by price.
C) price divided by average revenue.
D) the market price.
D
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A good's real price is the:
A. dollar price of the good relative to the average dollar price of all other goods and services. B. average dollar price of the good. C. dollar price of the good relative to the real price of all other goods and services. D. absolute price of the good in dollar terms.
You purchase a pizza oven that is expected to last 10 years for $15,000. How do you account for the economic cost of the oven?
A) Expense the oven, taking a write-off for the entire price in the first year. B) Amortize the cost over the 10 year life of the oven, resulting in a cost of $1,500 per year. C) Calculate the value of renting the oven to someone else and use that as your cost. D) The cost is the price of the oven minus any revenue made selling pizzas made in the oven.
The expectation that increased employment improves one's chances of escaping poverty is fully supported by available data
Indicate whether the statement is true or false
When considering the running of a corporation, there is a principal-agent problem between shareholders and the CEO because
A. shareholders cannot observe all of the CEO's decisions. B. shareholders require the firm to pay a dividend. C. shareholders sign confidentiality agreements. D. the CEO is paid in part with stock options. E. shareholders want the firm to maximize the firm's share price while the CEO wants to maximize profits.