Total revenue decreases as output increases when demand is:
A. downward sloping.
B. perfectly elastic.
C. price inelastic.
D. price elastic.
C. price inelastic.
You might also like to view...
If a person is entertained by gambling, then
A) she is not risk averse. B) she does not understand the concept of a fair game. C) she may gamble even if it is an unfair game. D) she will definitely not buy automobile insurance.
If a firm increases its output level in the short run, then
a. variable cost rises but fixed cost remains unchanged b. both variable cost and fixed cost rise c. variable cost rises, but fixed cost fall d. both variable cost and fixed cost fall e. variable cost remains unchanged, but fixed cost rises
A(n) ________ provides guaranteed benefits for those who qualify under government transfer programs such as Social Security or Medicare
a. entitlement program b. excise tax c. continuing resolution d. biennial budget
A human resource such as ingenuity can be thought of as
A) part of government spending programs. B) part of a country's endowment. C) a causal factor for aggregate supply shifting left. D) a positive for imports.