In perfect competition, marginal revenue always equals
a. total revenue.
b. price.
c. average cost.
d. marginal fixed cost.
b
Economics
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As a tool that is used to measure inequality in the distribution of income, the Lorenz curve graphs
A) the cumulative percentage of income against the cumulative percentage of households. B) the percentage of total income received by each given percentage of households. C) the mean income, median income, and mode income against the percentage of households. D) the mean income received by households over time.
Economics
In macroeconomics, which of the following topics would most likely be studied?
A. The growth rate of the oil industry B. Bob's budget C. Unemployment in Mexico. D. Nike's costs of production
Economics