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____   52.   The demand curve facing Company ABC is perfectly elastic. What is its marginal revenue?...

____   52.   The demand curve facing Company ABC is perfectly elastic. What is its marginal revenue?

a.

Equal to the average revenue.

b.

Less than the price.

c.

Higher than the price.

d.

Higher than the average revenue.

____   53.   In the short run, which are most important in determining changes in output?

a.

marginal costs and revenue

b.

total costs and revenue

c.

average costs and revenue

d.

fixed costs
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Answer #1

52. a. Equal to the average revenue
53. a. marginal costs and marginal revenue.

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