The additional money a business gets from producing and selling one more unit of output is
A. marginal revenue.
B. long-term revenue.
C. average profit.
D. marginal product.
Answer: A
Economics
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A tendency for a good to come into favor with consumers because other consumers have chosen to buy the item is
A) price-leadership. B) negative-sum game. C) positive market feedback. D) negative market feedback.
Economics
To be a natural monopoly, a firm must
A) control a key resource input. B) have economies of scale that are so large that it can supply the entire market at a lower cost than two or more firms. C) have significant network externalities. D) be in a government-regulated market.
Economics