What is net marginal revenue?
A) The same as marginal profit.
B) The additional revenue the firm earns from an extra unit of an internally produced intermediate input.
C) The additional revenue the firm earns from producing one more unit of output.
D) The additional revenue the firm earns from selling one more unit of output.
B
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An example of a real flow in the circular flow diagram is
A) a household's supply of work effort at its new business. B) Nike's payment of wages to workers in China. C) your county's collection of property taxes. D) the government's payment of wages to a soldier. E) a teacher's salary at the local high school.
In a multiplayer game where there are two equally-enjoyable choices of what to do, and everyone wants to do what everyone else is doing, only one Nash equilibrium is stable
Indicate whether the statement is true or false