In 2011,the Ten Most Populous Countries in the World Accounted

question 76

Multiple Choice

In 2011,the ten most populous countries in the world accounted for just over ________ percent of the world income.

• A) ten
• B) twenty
• C) thirty
• D) forty
• E) fifty

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Definitions:

Total Revenue

The amount a firm receives for the sale of its output.

Nash Equilibrium

A concept within game theory where no participant can gain by a unilateral change of strategy if the strategies of the others remain unchanged.

Profit-Maximizing

The process by which a firm determines the price and output level that returns the maximum profit.

Marginal Cost

The increase or decrease in the total cost that arises from producing one additional unit of a product.