Refer to the above figure. Line C in Panel B does NOT represent
A) the equilibrium price.
B) average revenue.
C) total revenue.
D) marginal revenue.
C
You might also like to view...
Single-price monopoly is inefficient because
a. side payments are not made b. a monopoly firm charges a price that exceeds its marginal cost c. a monopoly firm charges a price equal to its marginal cost d. a monopoly firm produces the quantity at which P = MR = MC. e. a monopoly firm produces the quantity at which MR = MC.
The optimal consumption bundle of two goods is found at the point of tangency of the highest indifference curve and the budget constraint
a. True b. False Indicate whether the statement is true or false
Which of the following is true about the Bitcoin:
a. Bitcoin transactions are not cleared through clearing houses, such as Mt. Gox. b. Bitcoin has a fixed exchange rate relative to the U.S. dollar and other currencies. c. A Bitcoin can be purchased and sold via foreign exchange dealers, just like the dollar or euro. d. Bitcoin transactions are highly visible and, therefore, taxable events.
Assuming the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, the unemployment rate is:
a. 6 percent b. 8 percent c. 4 percent d. 10 percent