If the price of a good increases and the total revenue remains the same, the demand for the good is
A. elastic.
B. perfectly elastic.
C. inelastic.
D. unit elastic.
Answer: D
You might also like to view...
If the United States is a "net lender" abroad, ________. (Assume that the capital account is zero and net transfers are zero.)
A) the United States must be exporting less than it is importing B) net foreign investment must be negative C) national saving is greater than domestic investment D) net capital flows must be positive
Refer to the above table. If the price of the good produced is $9, the marginal revenue product of the 13th worker is
A) $810 B) $360 C) $6840 D) $630
Because the U.S. poverty line is an absolute measure rather than a relative one, the official U.S. poverty rate:
A. increased steadily when there was economic growth that raised the incomes of low-income families. B. fell steadily when there was economic growth that raised the incomes of low-income families. C. fell steadily when there was economic growth that caused inequality to grow among the population. D. increased steadily when there was economic growth that caused inequality to decline across the population.
Beyond the point of efficient scale, marginal cost pulls the average total cost upward
a. True b. False Indicate whether the statement is true or false