Using the information in the table shown, the marginal revenue:
This table represents the revenues faced by a monopolist.
A. increases, then decreases as output increases.
B. is negative after the 6th unit.
C. increases as output increases.
D. decreases, then increases after the 6th unit.
B. is negative after the 6th unit.
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Refer to the figure above. The region ABC shows the ________ due to the price ceiling
A) gain in consumer surplus B) gain in producer surplus C) deadweight loss D) economic loss
This national income accounting rule guarantees that total product exactly equals total expenditure on that product:
A) changes in inventories count as expenditures. B) changes in inventories do not count as expenditures. C) depreciation of capital is subtracted from investment. D) total product is the sum of values added.
The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. This information could be used to determine
A) the slope of Bobby's demand curve for juice. B) the amount by which Bobby's demand curve for juice shifts when his income rises. C) the amount by which Bobby's demand curve for juice shifts when the price of snacks rises. D) All of the above.
A tax of 10 percent of the ticket price of an airplane ticket is _____
a. a unit tax b. an ad valorem tax c. an income tax d. a value-added tax