In the above figure, a trough is at point ________ and a peak is at point ________
A) a; b
B) b; c
C) b; a
D) d; c
C
Economics
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The law of demand states that the quantity of a good demanded varies
A) inversely with its price. B) inversely with the price of substitute goods. C) directly with income. D) directly with population.
Economics
Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the question.
The marginal revenue of the 100th unit is $________.
A. 20 B. 40 C. 50 D. 0 E. cannot tell from the information provided
Economics