Marginal revenue is the change in total revenue from using one more unit of an input in the short run

A monopolist's profit per unit is shown by the difference between price and average cost per unit

a. True b. False Indicate whether the statement is true or false

Which of the following statements is correct? In 2014,

a. real income per person in the U.S. was about 4 times that in China. b. real income per person in China was more than 2 times that in India. c. the typical resident of India had less real income than the typical resident of England in 1870. d. All of the above are correct.