Marginal revenue is
A) total revenue divided by the total quantity of output.
B) the change in profit divided by the change in the quantity of output.
C) the change in total revenue divided by the change in total cost.
D) the change in total revenue divided by the change in the quantity of output.
Answer: D
You might also like to view...
Workers expect inflation to rise from 3% to 5% next year. As a result, this should
A) move the economy down along a stationary short-run aggregate supply curve. B) move the economy up along a stationary short-run aggregate supply curve. C) shift the short-run aggregate supply curve to the left. D) shift the short-run aggregate supply curve to the right.
If real income rises 5%, prices rise 3%, and nominal money demand rises 7%, what is the income elasticity of real money demand?
A) 3/4 B) 4/5 C) 5/6 D) 6/7
You withdraw $100 from your checking account. How does this affect the money supply and the reserves of your bank?
a. The money supply increases, and the reserves of your bank decline. b. Both money supply and the reserves of your bank increase. c. There is no change in the money supply, and the reserves of your bank decline. d. The money supply decreases, and the reserves of your bank increase.
A decrease in demand and a decrease in supply will lead to
A) unambiguous increases in both price and quantity. B) unambiguous decreases in both price quantity. C) an unambiguous decrease in price, but the effect on quantity is indeterminate. D) an unambiguous decrease in quantity, but the effect on price is indeterminate.