Total revenue divided by quantity is
A) average revenue.
B) marginal revenue.
C) quantity revenue.
D) price revenue.
Answer: A
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Jacqueline, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top ten universities in her field. What type of unemployment is she experiencing?
What will be an ideal response?
Below, the graph on the left shows the short-run cost curves for a firm in a perfectly competitive market, and the graph on the right shows the current market conditions in this industry. What do you expect to happen in the long-run?
A. Market supply will decrease. B. Market price will decrease. C. The firm's profit will decrease. D. both b and c E. all of the above
What are the factors that cause a producer's average cost per unit to fall as output rises called?
(A) Licenses (B) Franchises (C) Patents (D) Economies of scale
When the price of apples goes up:
A. the demand for apples will decrease, ceteris paribus. B. the demand for apples will increase, ceteris paribus. C. the quantity of apples demanded will decrease, ceteris paribus. D. the quantity of apples demanded will increase, ceteris paribus.