The total revenue of Grandma's Fudge Factory is equal to the:
A. average cost times quantity sold.
B. elasticity of demand divided by percentage change in quantity.
C. price of fudge times quantity sold.
D. income minus explicit and implicit costs.
Answer: C
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As output increases, the AVC
a. increases. b. decreases. c. remains the same. d. falls and then rises.
Who created the system of human needs and motivations?
a. max weber b. abraham maslow c. douglas mcgregor d. frank gilbreth
As market interest rates rise, people want to hold smaller cash balances, which means that the existing stock of money circulates faster and velocity rises.
Answer the following statement true (T) or false (F)
What happens to overall living standards when countries trade with other countries?
What will be an ideal response?