(Consider This) An unprofitable motel will stay open in the short run if:
A. price (average nightly room rate) exceeds average variable cost.
B. marginal revenue exceeds marginal cost.
C. price (average nightly room rate) exceeds average fixed cost.
D. marginal revenue exceeds price.
Answer: A
Economics
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The opportunity cost of producing more of one good on a production possibilities frontier is
A) a dollar amount. B) a ratio of quantities. C) a ratio of prices. D) equal to the area inside the production possibilities frontier. E) a theoretical concept which cannot be measured.
Economics
The measure of the aggregate price level that is most frequently reported in the media is the
A) GDP deflator. B) producer price index. C) consumer price index. D) household price index.
Economics