Marginal revenue is the change in
A. Average revenue when output is changed.
B. Total revenue when output is changed.
C. Total revenue when price is changed.
D. Average revenue when price is changed.
Answer: B
You might also like to view...
Tomas wants the city to convert a portion of an existing public park to a covered bus stop so it is more convenient to catch a bus to work each day
Michelle wants the city to expand the park so the neighborhood kids have an even larger place to play outside. In this situation, A) Tomas is the villain and Michelle is the victim. B) Michelle should get her way because a larger park is more important than a covered bus sto
"If firms in duopoly collude and operate as a monopoly, the industry produces more output compared to the Nash equilibrium." True or false? Explain
What will be an ideal response?
The primary difference between an American and European option is:
A) American options must be exercised on the expiration date B) European options must be exercised on the expiration date C) American options may be exercised at any point up until the expiration date D) European options may be exercised at any point up until the expiration date
Which of the following is not a typical goal of bureaucrats?
a. increasing the size of their bureaus b. gaining prestige c. increasing the size of their staffs d. increasing their bureaus' budgets e. achieving greater efficiency