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Author Question: Net revenue is defined as A) marginal revenue minus marginal cost. B) total revenue minus ... (Read 169 times)

fbq8i

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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?


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Ahnyah

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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

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

AmberC1996

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Reply 3 on: Yesterday
Wow, this really help

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