QuizMaster A. Total revenue equals total cost
B. There is the biggest positive difference between total revenue and total cost
C. There is the biggest negative difference between total revenue and total cost
D. Profits are Zero
A. Average revenue equals marginal cost
B. Average revenue equals average cost
C. Marginal revenue equals marginal cost
D. Average cost equals marginal cost
A. Demand is upward slog
B. Demand is price elastic
C. A price fall would increase revenue
D. Demand is price inelastic
A. Average revenue is greater than average variable cost
B. Average revenue is greater than average cost
C. Average revenue is greater than marginal revenue
D. Average revenue is greater than average fixed cost
A. Some products are produced that would not otherwise be produced
B. Producer surplus increases
C. Consumer surplus decreases
D. Firm’s profits increase
A. The higher price in market A
B. The higher price in market B
C. The same Price in both markets
D. Cannot tell which price will be higher
A. Charging different prices for different products
B. Charging the same prices for different products
C. Charging the same prices for same products
D. Charging different prices for the same products
A. Total revenue – quantity
B. Total revenue / quantity sold
C. Total quantity sold quantity sold
D. Total revenue / total cost
A. Price plus quantity
B. Price multiplier by quantity sold
C. Price divided by the quantity sold
D. Price minus quantity sold
A. Profit
B. Profitability
C. Feasibility
D. Realism