Marginal revenue is
a. the change in total revenue obtained by selling an additional unit of output
b. average revenue per unit of output
c. the change in total revenue per unit of cost
d. total revenue divided by average revenue
e. average revenue divided by marginal cost
A
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Managers' pursuit of which of the following objectives would NOT lead to a principal-agent problem in a corporation?
A) The corporation's growth B) Increased market share for the corporation C) The maximum possible profit for the corporation D) A great "golden parachute" or retirement package E) Increased current salary and fringe benefits
In any one year, the Social Security taxes collected by the government must necessarily equal the Social Security payments that the government makes
Indicate whether the statement is true or false
State two examples of government-created monopolies
Food stamps provided by the government to households are an example of
A) vouchers. B) marginal benefits from producing a good or service. C) marginal cost from producing a good or service. D) marginal external cost. E) a government good.