In a perfectly competitive market, the average revenue curve of a firm is
A) the same as its total revenue curve.
B) the same as its demand curve.
C) the same its economic profits.
D) the difference between its total revenue curve and its marginal revenue curve.
Answer: B
Economics
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Lisa views pizzas and burritos as goods. If she prefers a bundle of four burritos and four pizzas to a bundle of four burritos and five pizzas, which property of consumer preference is violated? What change in the assumptions could lead a rational
consumer to prefer the first bundle?
Economics
Suppose the current interest rate is 5% and you pay $250 for a bond. What is the total payment that should be made to you in one year?
a. $12.50 b. $262.50 c. $237.50 d. $255.00 e. $267.50.
Economics