According to your textbook, what is the general rule to follow in order to maximize net revenue?
A) Take any action if, but only if, the expected marginal revenue exceeds the expected marginal cost.
B) Take any action you expect will not be copied by your competitors.
C) Take as many innovative actions as you can, and leave the copying up to smaller firms in the market because they are least likely to increase their market share.
D) Charge the lowest possible price.
Question 2
The state of Georgia offers free college tuition to high school students with a B average. In 2007, the state raised the requirement so that fewer students qualified for the scholarship .
At the same time, Georgia increased state spending on health care. Suppose that college education is on the vertical axis and health care is on the horizontal axis of a PPF. These changes A) are example of a tradeoff.
B) are an example of incentives.
C) will cause a shift out of the PPF.
D) will cause a shift in the of the PPF.
First-pass effect: (a) drugs are absorbed; (b) drugs enter hepatic portal circulation and go directl
Sample purchase order form.
Direction: Right-Hand Rule
Use the product rule to find derivative
Find derivative using quotient rule
Trapezoidal rule