Which of the following is true for a firm with a downward-sloping demand curve for its product?
A) Price equals average revenue but is greater than marginal revenue.
B) Price equals average revenue but is less than marginal revenue.
C) Price, average revenue, and marginal revenue are all different.
D) Price, average revenue, and marginal revenue are all equal.
A
You might also like to view...
An international financial crisis can be precipitated when
A) the rate of money supply growth is not the same in all nations. B) newly-acquired political freedom in a country leads some interest groups to form a coalition limiting competition. C) many international investors look at the behavior of a few large investors to determine when funds should be withdrawn from a particular country. D) there is an increase in portfolio investment.
Which is characteristic of a traditional economy?
a. Communities tend to be fast-growing. b. They are usually based on light industrial production. c. They have a high standard of living. d. Children tend to have the same jobs as their parents did.