Kate's Great Crete (KGC) is a local monopolist of ready-mix concrete. Its annual demand function is Q = 20,000 - 400P, where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. What is KGC's marginal revenue when it sells 5,000 cubic years of concrete per year?
A. $37.50
B. $25.00
C. $50.00
D. $0.00
B. $25.00
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What will be an ideal response?
Since the period following World War II (the early 1950s), the proportion of most countries' production being used in some other country
A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend. E) increased slightly before dropping off.
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A) 6.7%. B) 7.1%. C) 5.6%. D) 93.3%.
Which of the following is an important factor affecting economic growth?
A) the rate of saving B) exchange rates C) the rate of interest D) the level of prices