Suppose a market has the demand function Qd=20-0.5P. At what price will total revenue be maximized?

When average cost is greater than marginal cost, marginal cost must be

a. rising. b. falling. c. constant. d. The direction of change in marginal cost cannot be determined from this information.

Using expansionary policies to combat a recession would:

A. increase a budget deficit. B. increase a budget surplus. C. decrease discretionary spending. D. increase federal revenue.