The theory of efficient markets:
A. allows for higher than average returns if the investor takes higher than average risk.
B. assumes people have equal luck.
C. rules out high returns due to chance.
D. says insider information makes markets less efficient.
Answer: A
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What does the U.S. Treasury issue to finance the deficit?
A) government bonds B) tax increase notices C) directives to lower unemployment D) new regulations on spending
If ATC is falling, then MC must be:
a) rising. b) below ATC. c) equal to ATC d) above ATC. e) falling.
The marginal revenue product is the extra revenue the firm receives by hiring one additional unit of input.
Answer the following statement true (T) or false (F)
Profit per unit is the difference between
A) average revenue and average total cost. B) marginal revenue and marginal cost. C) total revenue and total cost. D) average revenue and marginal cost.