What is the relationship between marginal revenue and total revenue?
A. Total revenue equals marginal revenue multiplied by quantity sold
B. Total revenue equals marginal revenue minus total costs
C. Total revenue equals marginal revenue plus the price of all products sold
D. Total revenue equals marginal revenue plus fixed costs plus variable costs
Answer: A. Total revenue equals marginal revenue multiplied by quantity sold
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The wage earned by a domestic resident for working in a foreign company for a month is an example of a(n) ________
A) factor payment from foreigners B) transfer payment from foreigners C) export by the domestic resident D) import by the domestic resident
Mike has been unemployed for over a year. He hasn't looked for a job in the last three months, but he's just started looking for work again. Because Mike started looking for a new job
A) the unemployment rate decreased. B) the working-age population increased. C) the unemployment rate increased. D) the labor force participation rate decreased.
The federal government began officially measuring poverty in the
A) 1860s. B) 1900s. C) 1930s. D) 1960s.
Which of the following would probably not result in acquiring human capital?
A. Taking an economics course. B. Learning how to make chicken parmigiana. C. Playing varsity soccer. D. Purchasing a new piece of machinery.