If the price elasticity of demand is unit then a fall in price:

• A.Reduces revenue.
• B.Leaves revenue unchanged.
• C.Increases revenue.

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Which of the following statements is true?

• A.If marginal cost is decreasing, average total cost must be decreasing.
• B.If average total cost is decreasing, marginal cost must be decreasing.
• C.If marginal cost is greater than average variable cost, average variable cost must be increasing.

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A(n) ______ 's object is to earn a return in excess of the fair rate of return.

• A.hedger.
• B.investor.
• C.information-motivated trader.

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Which statement is false?

• A.Public equity markets are much larger than the private equity markets.
• B.Public equity securities are more liquid than private equity securities.
• C.Public equity funds are more likely to challenge the way the businesses are run and improve operations of these businesses.

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A reading test with 50 possible points yields a bell-shaped distribution with scores ranging from 5 to 48 on a large sample of third graders. If the same test were administered to fifth graders, what would we expect the form of the frequency distribution to be?

• A.Negatively skewed (skewed to the left)
• B.Symmetric, but not bell-shaped
• C.Positively skewed (skewed to the right)

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