Total revenue will be at its largest value on a linear demand curve at the
a. top of the curve, where prices are highest.
b. midpoint of the curve.
c. low end of the curve, where quantity demanded is highest.
d. None of the above is correct.
b
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"Any social planner who implements efficient outcomes will produce the same output in a given market as the competitive market would." In addition to the conditions of the first welfare theorem, which of the following have to hold in order for the statement in quotes to be true?
A. Consumer tastes are quasilinear. B. Consumer tastes are homothetic. C. Production frontiers are homothetic. D. Both (a) and (c). E. Both (b) and (c). F. None of the above.
Which of the following is not a benefit of the unitary form (Uform) of an organization?
A. Opportunity costs of the time of senior management B. Improved coordination among functional specialists C. Higher level of functional expertise D. Well-defined promotion path
Shift to the left or right for supply:price of product
What will be an ideal response?
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A