If a firm is a price taker, its marginal revenue is
a. equal to market price.
b. less than market price.
c. greater than market price.
d. a multiple of market price that may be either greater than or less than one.
a
Economics
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Larry spends all his $800 monthly income on pizza and milk. The price of pizza is $4 a slice, and the price of milk is $2 per quart. The relative price of milk is
A) 2 slices of pizza per quart. B) 0.5 slices of pizza per quart. C) $2 per quart. D) 0.5 quarts per slice of pizza.
Economics
The table above gives Cathy's total utility from Mt. Dew. Cathy's marginal utility from the 4th Mt. Dew is ________ units
A) 75 B) 90 C) 15 D) 82.5
Economics