A firm's marginal revenue is
A) the change in total revenue that results from a one-unit increase in the quantity sold.
B) total revenue minus total cost.
C) the change in total revenue minus the change in total cost.
D) the change in total revenue that results from an increase in the demand for the good or service.
E) less than the market price for a perfectly competitive firm.
A
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The African agrarian system is characterized by
(a) absentee landlords. (b) a dual agrarian system known as latifundio-minifundio. (c) land fragmentation. (d) shifting cultivation.
One of the elements of monopolization is
A) having a superior product or having a superior business acumen.. B) the possession of monopoly power in the relevant market. C) when only one firm exists in an industry. D) having a significant pricing power due to an accident in the relevant market.
Laura Kaid owns a business and is willing to invest in capital until, at the margin, her investment yields a cash stream with a present value less than the marginal cost of the investment
a. True b. False
The cost associated with foregoing the opportunity to employ a resource in its best alternative use is called:
A. a sunk cost. B. an opportunity cost. C. a fixed cost. D. total cost.