A Firm Facing a Downward-Sloping Demand Curve Sells 50 Units

question 43

Multiple Choice

A firm facing a downward-sloping demand curve sells 50 units of output at $10 each.The firm's average revenue is _____

• A)$500.
• B)more than $10 but less than $500.
• C)$10.
• D)less than $10 but more than zero.
• E)zero.

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Definitions:

Dominant Social Paradigm

The capitalist view supported by an ideology that legitimates the domination of nature for the material benefit of humans.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.

Species Diversity

The number of species that exist in an ecosystem.

Geographic Area

A specific portion of the Earth's surface defined by natural or artificial boundaries.