The slope of the total revenue curve for a perfectly competitive firm equals
a. marginal revenue, which is less than price
b. marginal revenue, which is greater than price
c. marginal revenue, which is equal to price
d. average revenue, which is less than price
e. average revenue, which is greater than price
C
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Tris is shopping for pants and belts. He has a budget of $100. The price of a pair of pants is $20 and the price of a belt is $5. His marginal utility schedules are above. What combination of pants and belts does Tris buy? Explain your answer
What will be an ideal response?
If American college students decide that drinking Mexican-brewed beer helps one get noticed, net exports will tend to fall, causing aggregate demand to ________ and the ________ curve to shift to the left, everything else held constant
A) fall; LM B) fall; IS C) rise; LM D) rise; IS