If a firm faces a downward-sloping demand curve, its marginal revenue is
a. less than its marginal cost
b. greater than price
c. less than price
d. equal to price
e. equal to its total revenue
C
Economics
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If income were distributed solely according to marginal productivity,
a. every family would be above the poverty level b. it would be distributed evenly c. it would be distributed normally d. workers in capital-intensive industries would earn less than workers in labor-intensive industries e. some individuals would not receive any income
Economics
Explain how compensation plans like piece rate payment, capitation fees, and hourly payment options resolve the principal/agent problem faced by employers
Economics