The table above gives the demand schedule for a good. What is the total revenue at point A? At point B? At point C? At point D? At point E?
What will be an ideal response?
The total revenue is the price multiplied by the quantity demanded. Hence at point A, the total revenue is $4,000. At point B it is $4,800. At point C it is $4,800. At point D it is $4,000. And at point E it is $2,400.
Economics
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Which of the following is an example of labor income?
A) Dividend received by shareholder B) Profit earned by an entrepreneur C) Rent paid to a landlord D) Bonus paid to a worker
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If your bank receives a demand deposit of $4,000 and the legal reserve requirement is 20 percent, then it can make additional loans of
a. $800 b. $3,200 c. $4,000 d. $16,000 e. $20,000
Economics