The marginal revenue curve of a competitive firm is
a. U-shaped.
b. a ray from the origin.
c. a horizontal line at the market price.
d. downward sloping.
c. a horizontal line at the market price.
You might also like to view...
Which of the following contributed to the emergence of hyperinflation in Germany in the early 1920s?
A) payment of massive war reparations required by the Versailles Peace Treaty B) huge budget deficits financed by printing paper money C) decreased desire to hold money on the part of the German people D) All of the above
If a firm in a perfectly competitive market faces a market price of $2, and it decides to increase its production from 2,000 units to 4,000 units, the firm's marginal revenue:
A. will increase from $4,000 to $8,000. B. will decrease from $8,000 to $4,000. C. will stay the same. D. None of these is true.
Which of the following is true of a "vanilla" bond?
a. It realizes capital gains in multiples of $1,000. b. It provides a fluctuating stream of interest income every year. c. It assures a return higher than the market rate of interest. d. It has a par value payable after a certain number of years from its issuance.
The value added for a nation equals
A. all goods and services less the intermediate goods used in production.
B. the market value of all products and services less the market value of all intermediate goods.
C. input costs plus the value of intermediate goods.
D. the market value of intermediate goods less the value of all goods and services.