When a firm is operating in a price-taker market, marginal revenue will always equal
a. average total cost.
b. one minus the elasticity of the market demand curve.
c. total revenue.
d. price.
D
Economics
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According to your text, when a shortage exists,
A) buyers compete with buyers. B) buyers compete with sellers. C) sellers compete with sellers. D) the price of the good would tend to fall in order to eliminate the shortage.
Economics
An example of term limits in the United States would be that U.S. presidents cannot hold more than:
A. four 2-year terms. B. four 4-year terms. C. two 2-year terms. D. two 4-year terms.
Economics