Profit is equal to

A. total revenue minus total cost.
B. total revenue divided by total cost.
C. total revenue divided by marginal revenue.
D. marginal revenue minus marginal cost.

Answer: A

Economics

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A monetary system is preferable over the barter system because of the problems associated with

A) the law of diminishing marginal utility. B) the law of increasing relative costs. C) the double coincidence of wants. D) cash leakages.

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An unexpected rise in the growth rate of the CPI should send bond prices __________ and stock prices __________

A) up; up B) up; down C) down; up D) down; down

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