The amount that a firm receives from the sale of goods and services is called:
A. total cost.
B. total revenue.
C. profit.
D. maximum profit.
B. total revenue.
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Suppose that 50 percent of the part-time workers of Metropolis are looking for full-time jobs
Given the data in Table 6.1, if these workers were counted as not employed and looking for work, the unemployment rate of Metropolis would be approximately A) 6 percent. B) 13 percent. C) 16 percent. D) 21 percent.
During a recession when people's incomes drop, grocery chains experience much smaller declines in sales than do upscale department stores. Explain this phenomenon using the concept of elasticity
What will be an ideal response?
Which of the following is not a type of trade restriction?
a. low-interest loans to foreign buyers b. export subsidies to domestic producers c. restrictive health and safety standards d. domestic content requirements e. economies of scale
A change in the price of hamburgers will change the supply of hot dogs
a. True b. False Indicate whether the statement is true or false