Profit per unit of output is
a. price minus average total cost
b. marginal revenue minus marginal cost
c. average total cost minus average variable cost
d. total revenue minus total cost
e. demand minus average variable cost
A
Economics
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Explain how an increase in government expenditure designed to increase aggregate demand can increase potential GDP and aggregate supply
What will be an ideal response?
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If the supply curve for orange juice is estimated to be Q = 40 + 2p, then, at a price of $2, the price elasticity of supply is
A) .01. B) .09. C) 1. D) 11.
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