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Deanna Brzowski
on Nov 27, 2024

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Marginal revenue is the

A) change in product price associated with the sale of one more unit of output.
B) change in average revenue associated with the sale of one more unit of output.
C) difference between product price and average total cost.
D) change in total revenue associated with the sale of one more unit of output.

Marginal Revenue

The rise in income achieved by selling an extra unit of a product.

Total Revenue

The overall amount of money generated by a company or entity from its activities, such as sales of goods or services, before any costs or expenses are deducted.

One More Unit

The concept of producing or acquiring an additional unit of a good or service and analyzing its impact on overall operations or outcomes.

  • Scrutinize the contribution of marginal revenue to pricing strategies in an entirely competitive firm setting.
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Fareeha AbiolaNov 29, 2024
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