Given the data in the above table, what is the marginal revenue when the 14th unit is sold?
A) $7.00
B) $5.00
C) $3.00
D) $1.00
C
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When a firm has been granted a trademark, which grants legal protection against other firms using the name of the product that has been granted the trademark, the firm
A) does not have to worry about legally enforcing the trademark; this is the responsibility of the legal system. B) still faces the possibility that the name will become widely used and no longer associated with a specific company. C) still must apply for a copyright and a patent to ensure that no other firm will use the product's name. D) must spend an annual amount on advertising the product each year; the amount it must spend is negotiated by the firm and the government agency that grants the trademark.
Permitting the exchange rate to float
A) automatically reduces the real income effects of volatility in aggregate expenditures. B) will result in dramatic shifts in the balance of payments. C) will induce locomotive effects between most trading partners. D) will result in the complete crowding-out effect of fiscal spending.
A price change triggers the income effect but not the substitution effect
a. True b. False Indicate whether the statement is true or false
Greater emphasis on self-sufficiency and trading less with foreign countries would increase incomes and living standards in the United States
a. true b. false