Marginal revenue equals the price of the last unit sold for the
a. perfect price discriminator
b. firm in monopolistic competition
c. oligopolistic price leader
d. foreign-owned domestic producer
e. export producer
A
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The fact that developed countries have strong, widely attended university systems indicates that
(a) university expansion should be a development priority. (b) universities teach skills used on the job. (c) developing countries place too much stress on agriculture. (d) none of the above.
Consumption patterns in the U.S. between 1790 and 1860 indicate a growing preference for
(a) basic necessities. (b) high quality clothes and homes. (c) simple, standardized and mass-produced goods. (d) luxury items.
A barter economy is one in which
a. money serves as a medium of exchange. b. only precious metals are accepted as money. c. goods are traded directly for other goods. d. paper money is backed by gold.
Other things the same, people in the U.S. would want to save more if the real interest rate in the U.S
a. fell. The increased saving would increase the quantity of loanable funds demanded. b. fell. The increased saving would increase the quantity of loanable funds supplied. c. rose. The increased saving would increase the quantity of loanable funds demanded. d. rose. The increased saving would increase the quantity of loanable funds supplied.