Marginal profit equals the difference between marginal revenue and average cost

The term oligopoly is highly ambiguous in the absence of

A) a clear and defensible definition of the product. B) a clear price structure. C) a definition of marginal cost. D) accounting rules adequately defining net revenue. E) clear distinctions between competitive and noncompetitive industries.

Aggregate demand in an economy with no government or foreign trade is

A) consumer expenditure plus actual investment. B) consumer expenditure plus planned investment. C) consumer expenditure plus inventory investment. D) consumer expenditure plus fixed investment.