Marginal revenue:
A) is the change in total revenue associated with producing one more unit of output.
B) is the product of the price of a good and its quantity sold minus the cost of production.
C) is always greater than the total revenue.
D) is always equal to the price of the good.
A
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The value of $100 left in a certificate of deposit for four years that earns 4.5% annually will be:
A. $117.00 B. $145.00 C. $119.25 D. $120.00
If the price level was 100 in 2014 and 102 in 2015, the inflation rate was
A) 102%. B) 20%. C) 2%. D) 0.2%.
The primary purpose of ________ is to encourage the expenditure of funds on research and development to create new products
A) centrally planned economies B) government-run health care C) nationalizing oil companies D) patents and copyrights
Since a monopoly faces no competitors, it need not advertise
Indicate whether the statement is true or false