Which of the following is not true for a firm in perfect competition?
A) Price equals average revenue.
B) Average revenue is greater than marginal revenue.
C) Marginal revenue equals the change in total revenue from selling one more unit.
D) Profit equals total revenue minus total cost.
B
Economics
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Uncertainty costs arise from inflation because inflation makes long-term planning ________ so people respond by ________ investment
A) less difficult; not changing B) less difficult; increasing C) more difficult; increasing D) more difficult; decreasing E) more difficult; not changing
Economics
Refer to Figure 15-4. What is the amount of the monopoly's total cost of production?
A) $21,600 B) $17,700 C) $9,340 D) $7,800
Economics