Picture the curve. The total revenue curve originates at the origin
Indicate whether the statement is true or false
T
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Using the Taylor rule, if the current inflation rate equals the target inflation rate and real GDP is less than potential GDP, then the federal funds target rate ________ the sum of the current inflation rate plus the real equilibrium federal funds
rate. A) will be less than B) will be greater than C) will be the same as D) may be greater than or less than
We assume that firms, when they are deciding the best rate of output at which to produce
A) try to get the highest price possible. B) want to maximize sales. C) want to minimize costs. D) want to maximize profits.
How were macroeconomic balances different in the period from 2000 to 2007 from past financial crises?
What will be an ideal response?
Total revenue decreases if price ________ and demand is ________.
A. rises; inelastic B. falls; unit elastic C. rises; elastic D. falls; elastic