Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental revenue received from the sale of the last 3,000 cell phones?
A) marginal revenue B) gross profit C) sales revenue D) gross earnings
A
Economics
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According to the textbook, the income elasticity of demand is:
A about the same in the short run and in the long run. B much smaller in the short run than in the long run. C much larger in the short run than in the long run. D is difficult to differentiate from the short run to the long run.
Economics
List and explain the two phases and two turning points of the business cycle
What will be an ideal response?
Economics