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Title: Maximizing total revenue is the same as maximizing profit. Post by: patterke5 on Feb 27, 2018 Maximizing total revenue is the same as maximizing profit.
a. True b. False QUESTION 2 A signal is a. anything used to show employees in a market that demand in a profession has increased b. anything used to show employees in a market that supply in a profession has increased c. a proxy used to indicate possession of unobservable qualities required for a particular job d. a way for employers to discriminate against certain groups of people e. a way for employees to learn to stay out of certain professions QUESTION 3 Individual firms in a perfectly competitive market can a. purchase all they want at the market price b. sell all they produce at the market price c. earn more profit if they charge a price above the market price d. earn more profit if they charge a price below the market price e. earn no profit in the short run QUESTION 4 A monopolist has complete control over both price and quantity of output. a. True b. False QUESTION 5 Universities sometimes hire professors who are poor teachers but have good research skills because a. research ability is more important in education than teaching ability b. students don't listen to professors anyway c. teaching can be learned; research ability cannot d. research skills are easier to measure than teaching skills e. research skills are difficult to measure QUESTION 6 Because market price remains constant as a perfectly competitive firm expands output, each firm faces a. a downward-sloping demand curve b. a horizontal demand curve c. constant returns to scale d. constant costs e. diminishing marginal revenue Title: Maximizing total revenue is the same as maximizing profit. Post by: zubiro on Feb 27, 2018 Content hidden
Title: Maximizing total revenue is the same as maximizing profit. Post by: patterke5 on Feb 27, 2018 Such a godsend, you helped me and my friend big time
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