A firm's markup:
A. is the amount by which its price exceeds its marginal cost, expressed as a percentage of its price.
B. is the amount by which its marginal cost exceeds its average cost.
C. is the amount by which its average cost exceeds its marginal cost.
D. is the value of its profit.
A. is the amount by which its price exceeds its marginal cost, expressed as a percentage of its price.
You might also like to view...
What is the key proposition of new growth theory that makes economic growth persist?
What will be an ideal response?
The components of a well-run incentive compensation scheme include all of the following EXCEPT
a. evaluating the identified performance measures b. avoiding rewards for outcomes that are not included in the performance measures c. demonstrating that evaluators can be influenced with small favors d. identifying the relevant measures on which to evaluate employees
A commercial bank has actual reserves of $1 million and checkable-deposit liabilities of $9 million, while the required reserve ratio is 10 percent. The excess reserves of the bank are:
A. $100,000. B. $1 million. C. $50,000. D. $900,000.
When the average total cost is $16 and the total cost is $800, then the number of units the firm is producing is
A) impossible to determine with the information given. B) 12,800. C) 784. D) 50.