What is the shape of the total revenue curve derived from a linear downward sloping demand curve?
A) Horizontal
B) Vertical
C) U-shaped
D) Inverted u-shaped
D
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Explain what factors determine the market supply of US corn. Pick the most appropriate list among the following.
A. the price of corn, the price of inputs going into corn, technology B. the price of corn, the price of inputs going into corn, technology, and the number of farms growing corn C. the price of related crops competing for land with corn, the price of inputs going into corn, technology, the number of farms growing corn D. the price of corn, the price of related crops competing for land with corn, the price of inputs going into corn, technology, and the number of farms growing corn
The aggregate expenditures function (AE) is the total spending in an economy at a given: a. rate of interest
b. level of disposable income. c. level of autonomous investment. d. price level.