At the profit-maximizing level of output for a perfectly competitive firm, price equals marginal cost. Which of the following is also true?
A) Total revenue equals total cost.
B) Marginal profit equals marginal cost.
C) Average revenue equals average total cost.
D) The difference between total revenue and total cost is the greatest.
D
Economics
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What is the slope of the line in the graph?
A) +1/2 B) -1/2 C) +2 D) -2 E) -3/4
Economics
The consumption function becomes steeper as the income tax rate decreases because a decrease in the income tax rate: a. increases the disposable income available to the consumer. b. decreases the disposable income available to the consumer. c. increases the marginal propensity to save
d. increases the wealth of the consumer.
Economics