A price searcher can move its marginal revenue curve closer to its demand curve if it can
A) achieve significant economies of scale.
B) charge different buyers different prices for the same good.
C) price at the point of unit demand elasticity.
D) produce at constant marginal cost.
E) set marginal revenue equal to marginal cost.
B
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Sustained growth refers to a growth process:
A) where growth in GDP per capita is attributed primarily to public sector firms and enterprises. B) where GDP per capita grows at a positive and steady rate for long periods of time. C) where growth in GDP per capita is translated into equal increase in welfare for all citizens in the country. D) where GDP per capita grows at a rate of more than 20% per year for long periods of time.
The average tax rate can be calculated by which of the following formulas?
A) the change in taxes due divided by the change in taxable income B) the change in taxable income divided by the change in taxes due C) total taxes due divided by total taxable income D) total taxable income divided by total taxes due
Goods that are produced in other countries and then sold domestically are called
A) exports. B) imports. C) tariffs. D) quotas.
Which of these does not hold true if an economy is simultaneously in long-run and short-run equilibrium? a. The actual price level equals the expected price level
b. Aggregate quantity supplied equals potential output. c. Aggregate quantity demanded equals potential output. d. Aggregate quantity supplied equals aggregate quantity demanded. e. Aggregate demand curve is horizontal at the potential output level.