Marginal revenue is the rate of change of total revenue from selling one more unit of the product.

Name: Marginal revenue is the rate of change of total revenue from selling one more unit of the product.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement accurately describes the concept of marginal revenue. Marginal revenue reflects the additional revenue earned from selling one more unit, which can be calculated by dividing the change in total revenue by the change in quantity sold.

Marginal Revenue Is the Rate of Change of Total Revenue