Marginal revenue equals 0 when:
A) total revenue is increasing.
B) total revenue is at its maximum.
C) total revenue is decreasing.
D) none of the above; marginal revenue is always positive.
B
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The fixed expense on a fixed level of capital in the short run becomes a fixed cost for the firm in the long run.
Answer the following statement true (T) or false (F)
A tax that takes the same percentage of tax from all taxpayers is called a:
A. proportional tax. B. progressive tax. C. regressive tax. D. lump-sum tax.
Why do economists conduct growth accounting studies? What are the three lessons that commonly emerge from such studies? What is the full recipe for the growth of per capita GDP in an economy?
In the American economy, the central figure is the ________________.
Fill in the blank(s) with the appropriate word(s).