If Two Similar Measures Qualify for the Ballot and Both

question 79

Multiple Choice

If two similar measures qualify for the ballot and both are approved,which measure takes effect?

• A)the measure that is listed first on the ballot,because it qualified first
• B)neither,because they cancel each other out
• C)the measure that receives more votes
• D)the state supreme court possesses the authority to choose the winner

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Definitions:

Total Revenue

Total revenue refers to the overall amount of money generated by a business from its sales activities before any expenses are subtracted.

Break-Even Point

An output at which a firm makes a normal profit (total revenue = total cost) but not an economic profit.

Total Revenue

The total income received by a firm from selling its goods or services, calculated as the quantity sold multiplied by the selling price per unit.

Short-Run Supply Curve

A supply curve that shows the quantity of a product a firm in a purely competitive industry will offer to sell at various prices in the short run; the portion of the firm’s short-run marginal cost curve that lies above its average-variable-cost curve.