If the market price is $25, the average revenue of selling five units is
A) $5.
B) $12.50.
C) $25.
D) $125.
Answer: C
You might also like to view...
Orange juice drinkers want to consume more orange juice at a lower price. Which of the following events would have this effect?
A) a decrease in the population B) a decrease in the price of orange juice processing C) an increase in the cost of fertilizer used for orange groves D) a decrease in income, assuming orange juice is a normal good
A rational person:
A. makes choices based on added benefits and added costs. B. considers the financial benefits and financial costs of making a choice. C. undertakes activities until the net benefits become less than zero. D. makes choices based on total benefits and total costs.
One In the News article titled "Sharpest Economic Decline in 26 Years" states that
A. The drop in real GDP in 2008 was the greatest in 50 years. B. Real GDP fell by 6.8 percent in the last quarter of 2007. C. Real GDP fell by 3.8 percent in the last quarter of 2008. D. The drop in real GDP in 2008 was the greatest since the Great Depression.
A change in any of the ceteris paribus conditions for demand leads to a
A. change in supply. B. a good going from an inferior good to a normal good. C. shift of the demand curve. D. movement along the demand curve.