If a firm in a perfectly competitive market faces a market price of $4, and it decides to produce 700 units, the firm's average revenue will be:
A. $175.
B. $2,800.
C. $4.
D. $700.
Answer: C
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The demand curve for a monopoly's product is
A) more inelastic than the market demand for the product. B) more elastic than the market demand for the product. C) undefined. D) the market demand for the product.
In the Monetarist view, the aggregate demand curve will be unstable when __________ is __________
A) exogenous investment; stable B) the money supply; stable C) exogenous investment; varies D) money supply; varies
A trade deficit involves:
a. net flows of goods from foreign countries to the domestic government. b. net money flows from the foreign firms to the domestic government. c. net money flows from the domestic firms to the domestic government. d. net money flows from the foreign firms to the domestic firms. e. net flows of goods from foreign countries to the domestic firms.
Which of the following is not a negative externality associated with driving cars?
a. congestion b. pollution c. repairs d. accidents