For a firm facing a downward sloping demand curve, marginal revenue
A) is at a minimum at the midpoint of the demand curve.
B) is greater at higher prices than at lower prices.
C) increases each time prices are lowered.
D) falls each time prices are raised.
Answer: B
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How is a firm's labor demand curve affected when the price of its product rises?
What will be an ideal response?
The prime interest rate is the
A) interest rate on six-month U.S. Treasury bills. B) discount rate. C) Federal funds rate. D) interest rate that banks charge high-quality borrowers.
The income-expenditure identity for a closed economy is:
A. Y = C + I + G. B. Im ? Ex = C + I. C. Y = C + I + G + NX. D. Y + G = C + I ? NX.
Which of the following terms describes the process of buying and selling goods or currencies across international borders at a profit?
a. purchasing power parity b. exchange c. profiteering d. arbitrage