The vertical distance between the horizontal axis and any point on a perfect competitor's demand curve measures

A) total cost.
B) total revenues.
C) product price, marginal revenue, and average revenue.
D) supply curve for the product.


Answer: C

Economics

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Sam wants to trade eggs for sausage. Sally wants to trade sausage for eggs. Sam and Sally have a double-coincidence of wants

a. True b. False Indicate whether the statement is true or false

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Economics

A characteristic of long-run equilibrium is the economy is producing its potential output. This is:

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Economics