In perfect competition, price is equal to marginal revenue, while in monopoly, price is greater than marginal revenue.
Answer the following statement true (T) or false (F)
True
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If variable cost rises from $60 to $100 as output increases from 15 to 20 units, the marginal cost of the twentieth unit
a. is $100 b. is $5 c. is $40 d. is $8 e. cannot be determined without total cost
The world's largest exporter is
A. the United States. B. Japan. C. Germany. D. China.
The apparent result of central bank independence has been better performing economies. Why do you think it took so long for many countries to create independent central banks?
What will be an ideal response?
If the price elasticity of demand for good A is -4, then a 2% increase in
A. consumer income will result in a 2% decrease in the demand for good A. B. the market price of good A will result in a 8% increase in the quantity demanded of good A. C. consumer income will result in a 2% increase in the demand for good A. D. the market price of good A will result in a 8% decrease in the quantity demanded of good A.