A firm's price-cost margin:
A. is the amount by which its price exceeds its marginal cost, expressed as a percentage of its price.
B. is the amount by which its marginal cost exceeds its average cost.
C. is the amount by which its average cost exceeds its marginal cost.
D. is the value of its profit.
A. is the amount by which its price exceeds its marginal cost, expressed as a percentage of its price.
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As real disposable income increases, consumption expenditures
A) increase by the same amount. B) increase by a smaller amount. C) increase by a larger amount. D) remain constant.
Costs that accrue to the total population are called ____ costs. Costs incurred by the producer or consumer who makes the decision are called ____ costs
a. negative; positive b. social; private c. private; social d. positive; negative
According to the theory of time allocation, other things constant, the higher the market wage, the higher the opportunity cost of leisure
Indicate whether the statement is true or false
The terrorist attacks in Bali, London, and Madrid since 2001 suggest that U.S. policy has
A. made it significantly costlier to launch another terrorist attack against the U.S. on U.S. soil. B. forced a complete reversal of the overriding objectives of terrorist groups since 2001. C. made it impossible to launch another terrorist attack against the U.S. on U.S. soil. D. depleted the financial resources of foreign terrorist groups.