The U.S. government suspended the convertibility of the dollar into gold in

When the total external and internal costs of a transaction are taken into consideration, this is known as

A) public costs. B) average total costs. C) social costs. D) marginal costs.

A decrease in total revenue will result if

A) demand is inelastic and price increases. B) demand is elastic and price decreases. C) demand is inelastic and price decreases. D) demand is unitary elastic and price decreases.