If Bradley's Butcher Shop sells its product in a competitive market, then
a. the price of that product depends on the quantity of the product that Bradley's Butcher Shop produces and sells because the firm's demand curve is downward sloping.
b. Bradley's Butcher Shop's total cost must be a constant multiple of its quantity of output.
c. Bradley's Butcher Shop's total revenue must be proportional to its quantity of output.
d. Bradley's Butcher Shop's total revenue must be equal to its average revenue.
c
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"As the saying goes, the only sure things in life are death and taxes. This saying points out the result that everything having to do with taxes is an automatic fiscal policy." Is the preceding analysis correct or incorrect? Explain your answer
What will be an ideal response?
Which of the following statements about the percent of the population aged 25 years and above completing high school in 2000 is most accurate?
a. African Americans graduate at a rate about 10 percentage points less than whites, and Hispanics graduate at a rate about 30 percentage points less than whites. b. African Americans and Hispanics graduate at the same rate that whites do. c. Hispanics graduate at the same rate as whites, but African Americans graduate at much lower rates. d. Hispanic and black males graduate at the same rate as white males, but Hispanic and black females graduate at much lower rates than white females.