If current output is less than the profit-maximizing output, which must be true?
A) Total revenue is less than total cost.
B) Average revenue is less than average cost.
C) Average revenue is greater than average cost.
D) Marginal revenue is less than marginal cost.
E) Marginal revenue is greater than marginal cost.
Question 2
The law of diminishing returns applies to
A) the short run only.
B) the long run only.
C) both the short and the long run.
D) neither the short nor the long run.
E) all inputs, with no reference to the time period.
The effective temperature, or black body temperature, of the Sun (5777 K) is the temperature a black
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
What is the total resistance of the circuit in Figure 1? 150
Increase in total spending in presidential campaigns, 1976-2020