Which of the following is the correct formula for marginal revenue?
a. Marginal revenue = change in total revenue/change in quantity
b. Marginal revenue = change in quantity/change in total revenue
c. Marginal revenue = change in price/change in quantity
d. Marginal revenue = change in quantity/change in price
a. Marginal revenue = change in total revenue/change in quantity
The formula for marginal revenue is: marginal revenue = change in total revenue/change in quantity.
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