If a cut in prices increases total revenue in the short run, what will it do to total revenue in the long run?
a. It will decrease total revenue in the long run
b. It will increase total revenue in the long run.
c. It will leave total revenue unchanged in the long run.
d. Any of the above results are possible in the long run.
b
Economics
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Which of the following will be included in the income-based method of national accounting?
A) A firm's expenditure on raw materials B) A student's expenditure on education C) A consumer's expenditure on a imported car D) A worker's retirement benefits
Economics
Assuming your local cash price is quoted above the CBOT futures price, an increase in transportation costs in your area would be expected to have what effect on the basis:
A. Widen the basis. B. Strengthen the basis. C. No effect on the basis. D. Not enough information to tell.
Economics