Total revenue is equal to
A) the change in price resulting from a one-unit increase in quantity sold.
B) the amount people will buy at a given price.
C) the change in the quantity sold when you change the price by one unit.
D) price multiplied by the quantity sold.
E) the price at which the good or service is sold.
D
Economics
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In a goods market, sellers have higher bargaining power if:
A) the good being traded has close substitutes. B) there are several firms in the industry. C) there are just a few firms in the industry. D) there are just a few buyers in the market.
Economics
Refer to the figure above. If A forms a customs union with C, A's welfare will change by
A) $a + $e B) $a + $b + $c + $d + $e C) $a + $e - $b - $c - $d D) $a + $e - $h - $i - $j
Economics