The act of putting a new product on the market in order to make profits is called
a. invention.
b. innovation.
c. investment.
d. development.
b
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For a monopoly, marginal revenue for all units greater than 1:
A. is always less than the price. B. cannot be negative. C. is zero when total profits are maximized. D. is always greater than marginal cost.
The rate of interest paid on a bond is called the
A) coupon rate. B) weighted average cost of capital. C) discount rate. D) all of these choices.
Between 1945 and 1980, the national debt
a. as a percentage of GDP increased b. as a percentage of GDP decreased c. as a percentage of GDP remained relatively constant d. in dollar terms declined e. in dollar terms remained constant
Refer to Figure 23.6 for a perfectly competitive firm. Assuming that points A, B, C and D are all above AVC, this firm will maximize profits by producing the level of output that corresponds to point
A. C. B. D. C. A. D. B.