Marginal revenue (MR) is
A. TR/q.
B. P x q.
C. ?TR/?q.
D. P/q.
Answer: C
You might also like to view...
Use the following table to answer the question below. Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160032040120202408080401601204060801600800If Giovanni and Jorge both specialize in the production of their respective low-cost goods, then the total production of corn equals ________ pounds and the total production of green beans equals ________ pounds.
A. 320, 320 B. 160, 320 C. 320, 160 D. 160, 160
A country has a comparative advantage in the good that it can produce
a. at a lower cost in terms of other goods. b. using fewer resources than its trading partner uses. c. at a lower cost than its trading partner can produce. d. using more resources than its trading partner uses.
What do most economists think is the most accurate statement about velocity?
a. It is fairly constant in the short run, but varies considerably in the long run, complicating predictions about nominal GDP. b. M1 velocity is more stable in the short run than M2 velocity, and it has been a superior tool in predicting changes in nominal GDP. c. It is not constant in the short run, and predictions about nominal GDP have not fared well. d. M2 velocity has been less stable than M1 velocity, but both are reliable enough to make accurate predictions about changes in nominal GDP.
Most economists believe that in the short run
a. real and nominal variables are determined independently and that money cannot move real GDP away from its long-run trend. b. real and nominal variables are determined independently but that money can temporarily move real GDP away from its long-run trend. c. real and nominal variables are highly intertwined but that money cannot move real GDP away from its long-run trend. d. real and nominal variables are highly intertwined and that money can temporarily move real GDP away from its long-run trend.