A firm's total revenue
a. is the profit it earns by producing and selling a particular quantity of output
b. varies as output varies along the demand curve the firm faces
c. is constant at all points along a fixed demand curve
d. is determined by subtracting total profit from total cost
e. always decreases as its output increases, because costs rise
B
You might also like to view...
When a tax is imposed on a good, the result is always a shortage of the good
a. True b. False Indicate whether the statement is true or false
Explanations for the high precautionary savings in China includes all of these except:
A. lifetime employment and guaranteed state pensions. B. China's limited social safety net provides most people with little protection against health problems and medical costs. C. higher prices for things such as housing and education. D. the many uncertainties associated with changing economic institution and society as a whole.