You sell your good in a perfectly competitive market where the market price is $7.00. When you sell 100 units your total revenue is $700. When you sell 101 units:
A. total revenue increases by less than $7.
B. total revenue increases by exactly $7.
C. total revenue increases by more than $7.
D. total revenue may increase or decrease.
Answer: B
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If the Fed sells U.S. government securities to banks, the federal funds rate ________ and banks' reserves ________
A) falls; increase B) rises; increase C) falls; decrease D) rises; do not change E) rises; decrease
The figure shows the market for books before and after a sales tax is introduced. The tax on books is ________ a book, buyers pay ________ of tax per book, and the government's tax revenue is ________ a week
A) $1.20; $0.80; $128 B) $0.80; $1.20; $12 C) $0.40; $0.40; $4 D) $1.20; $0.80; $12
How have government policies and programs affected the volatility of the business cycle in the United States since 1950? Explain and provide at least two specific examples of policies or programs that may have had an impact
What will be an ideal response?
In practice, it is difficult to integrate the concept of vertical equity into the tax code although it is widely agreed that high-income individuals should pay more
a. True b. False