The Figure Shows the Results of a Recent Survey in Which

question 105

Multiple Choice

The figure shows the results of a recent survey in which 1040 adults were asked to grade U.S.public schools.Estimate the number of adults who gave U.S.public schools a B. ​ ​

• A)265
• B)260
• C)255
• D)250
• E)270

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Definitions:

Marginal Revenue

The additional income gained from selling one more unit of a good or service.

Total Cost

The sum of fixed costs and variable costs incurred by a business in producing a particular level of output.

Industry Equilibrium Price

The price at which the total quantity demanded by consumers equals the total quantity supplied by firms in an industry.

Perfectly Elastic

A situation in demand or supply where quantity demanded or supplied changes infinitely with any change in price.