Refer to the table above.below. At a price of $3, the total revenues of sellers will be:
Answer the question based on the following table which shows a demand schedule.
A. $18
B. $12
C. $45
D. $5
C. $45
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If total consumption spending is $1,000, the marginal propensity to consume is 0.6, and total output is $2,000, then the constant term is
A) $800. B) $1,000. C) $2,000. D) $1,200.
Which of the following is irrelevant when deciding whether to undertake an action?
a. opportunity costs b. implicit costs c. sunk costs d. implicit costs and explicit costs e. fixed costs and implicit costs
The European Central Bank has ensured independence by:
A. making sure the ECB's financial interests supports member countries' political organizations. B. not taking votes on policy matters. C. by appointing the Executive board members for life. D. explicitly forbidding the Governing Council from taking instructions from any government.
A perfectly competitive firm will be operating at its shutdown point if it operates
A. where P = MC. B. at the minimum point on its average variable cost curve. C. at the minimum point on its marginal cost curve. D. at the minimum point on its average total cost curve.