Marginal revenue equals 0 when:
A) total revenue is increasing.
B) total revenue is at its maximum.
C) total revenue is decreasing.
D) none of the above; marginal revenue is always positive.
B
Economics
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Which of the following would be consistent with the notion of a competitive market process, but would be inconsistent with the notion of perfect competition?
A) Cost-plus-markup pricing B) Freedom of entry C) Price taking behavior D) Large numbers of buyers and sellers E) All of the above.
Economics
The current official "base year" is
A) 2000. B) 1992. C) 1980. D) 1972.
Economics