A demand curve can be interpreted as
A) a marginal benefit curve.
B) a total benefit curve.
C) an average benefit curve.
D) a marginal cost curve.
E) None of the above answers is correct.
A
You might also like to view...
In the years immediately following the Civil War (1861–1865), a "unique" pattern of social and economic life formed in the South. It included:
(a) High productivity (b) An increase in wealth among all groups (c) Social advancement among former slaves and whites (d) Racism
Use the above figure. The total revenue earned by this monopolistically competitive firm is
A) $2,560. B) $1,600. C) $480. D) $1,900.
An increase in demand:
a. results in a leftward shift of the demand curve. b. could be caused by a decrease in the price of the good. c. could be caused by an increase in the price of a substitute good. d. is shown as movement down along a demand curve.
If a drought increases the price of corn by 10% and decreases the quantity of corn demanded by 5%, then demand for corn is
A. elastic and total revenue to corn farmers will decrease. B. inelastic and total revenue to corn farmers will increase. C. inelastic and total revenue to corn farmers will decrease. D. elastic and total revenue to corn farmers will increase.