The point of maximum profit for a business firm is where:
A. P = AC.
B. TR = TC.
C. MR = AR.
D. MR = MC.
Answer: D
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An industry's total revenue is $100 million. The above table shows the total revenue of the four largest firms in an industry
a. Calculate this industry's four-firm concentration ratio. b. Is this industry competitive? c. What market type does it most likely represent?
Refer to Table 2-11. What is China's opportunity cost of producing one digital camera?
A) 0.04 pounds of wheat B) 4 pounds of wheat C) 25 pounds of wheat D) 40 pounds of wheat
Dollarization of a currency occurs when a country takes all of its own currency out of circulation and replaces it with U.S. dollars.
a. true b. false
Portfolio investment can generally travel across borders ________ foreign direct investment can.
A. just as quickly as B. more quickly than C. not as quickly as D. None of these statements is true.