All of the following can be used to compute average profit except
A) marginal profit minus marginal cost. B) average revenue minus average total cost
C) total profit divided by quantity. D) price minus average total cost.
A
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Which of the followings statements is true?
A) The amount of capital accumulation will be higher if the capital stock of last year was low. B) The amount of depreciation will be lower if the investment on capital last year was high. C) The amount of capital accumulation will be higher if the capital stock of last year was high. D) The amount of depreciation will be higher if the investment amount on capital last year was low.
_____ has the primary responsibility for developing the early stages of the government's budget
a. The executive branch b. The Treasury Department c. The House of Representatives d. The Senate
A 10 percent decrease in the price of potato chips leads to a 30 percent increase in the quantity of soda demanded. What does this indicate?
a. Elasticity of demand for potato chips is 3. b. Cross-price elasticity of demand for soda is -3. c. Elasticity of demand for potato chips is 3. d. Elasticity of demand for soda 3.
When demand is elastic, an increase in price causes the seller's total revenue to:
A. decrease. B. increase. C. fall to zero. D. remain the same.