This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Net revenue is defined as A) marginal revenue minus marginal cost. B) total revenue minus ... (Read 85 times)

fbq8i

  • Hero Member
  • *****
  • Posts: 527
on: Jun 29, 2018
Net revenue is defined as
 
  A) marginal revenue minus marginal cost.
  B) total revenue minus marginal cost.
  C) total revenue minus total cost.
  D) gross revenue minus depreciation.

Question 2

Consumers' income declines and, as a result, the demand for margarine increases. Is margarine a normal or an inferior good? Explain.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ahnyah

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

Margarine is an inferior good. An inferior good is one for which demand increases as income decreases, which describes the situation outlined for margarine in the question.


fbq8i

  • Member
  • Posts: 527
Reply 2 on: Jun 29, 2018
Gracias!

jomama

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Spotted hyena cubs in Limpopo, South Africa. Note the well defined spots, which will fade with age Spotted hyena cubs in Limpopo, South Africa. Note the well defined spots, which will fade with age
Oceanic Crust Has a Well-defined Internal Structure Oceanic Crust Has a Well-defined Internal Structure
Effects of Living in Total Darkness on Monoaminergic Systems Effects of Living in Total Darkness on Monoaminergic Systems
At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da
Find the lateral area, total surface area, and volume of the frustum Find the lateral area, total surface area, and volume of the frustum
A company that makes environmental measuring devices has calculated their revenue and costs as ... A company that makes environmental measuring devices has calculated their revenue and costs as ...
Video: Introduction to Epilepsy

For a complete list of videos, visit our video library