If the demand curve for a firm's output is P=100-Q, the marginal revenue curve will be
A. MR=50-2Q.
B. MR=50-Q.
C. MR=P*.
D. MR=100-2Q.
Answer: D
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The marginal cost of a vacation in Jamaica is $3,500 . The marginal benefit to Jordan of a vacation in Jamaica is $3,000. a. According to the rule of rational choice, Jordan should choose not to vacation in Jamaica at this time
b. According to the rule of rational choice, Jordan will experience a net gain of $500 if he vacations in Jamaica. c. According to the rule of rational choice, Jordan should borrow $500 and vacation in Jamaica. d. According to the rule of rational choice, Jordan will experience a net gain of $3,000 if he vacations in Jamaica.
If input prices rose and production technology improved at the same time, as a result: larger quantities to be exchanged. a. prices would rise
b. prices would fall. c. larger quantities to be exchanged. d. we would not know which direction either prices or quantities exchanged would be altered without more information.
fill in the blanks: Other things constant, when households decide to save more, the supply of credit ________ and interest rates ________.
A. falls; fall B. rises; fall C. falls; rise D. rises; rise
Table 14.4In Table 14.4, Market 1 would be in equilibrium if buyers believed lemons accounted for:
A. about 90.91% of the market. B. about 74.5% of the market. C. about 63.25% of the market. D. about 57.65% of the market.