Marginal revenue is the change in:
A. total profit brought about by selling one more unit of output.
B. The change in price a firm can charge brought about by selling one more unit of output.
C. total revenue brought about by selling one more unit of output.
D. output brought about by a $1 change in product price.
Answer: C
You might also like to view...
Does a monopolist have a supply curve? Explain your answer
What will be an ideal response?
Suppose that IS and LM intersect at full-employment output. A leftward shift of IS will be followed by a __________ price level that shifts LM to the __________ in a return to full employment
A) rising; right B) rising; left C) falling; right D) falling; left
The International Monetary Fund was created to achieve each of the following goals EXCEPT
A) lend funds to countries with international payment problems. B) lend funds to large government infrastructure projects. C) monitor and offer advice on the exchange rate policies of member nations. D) encourage free convertibility of the currencies of member nations.
Requiring that applicants get drug tested is an example of:
A. signaling. B. screening. C. statistical discrimination. D. building a reputation.