For any firm operating in any market structure, marginal revenue (MR) equals
A) p × q.
B) Op × Oq.
C) (p × q)/q
D) O(p × q)/Oq
E) Oq/Op

Name: For any firm operating in any market structure, marginal revenue (MR) equals A) p × q. B) Op × Oq. C) (p × q)/q D) O(p × q)/Oq E) Oq/Op
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Question

Quizplus · Accepted Answer

Marginal revenue (MR) is the change in total revenue (TR) from selling one more unit of a good. It is calculated as the derivative of total revenue with respect to quantity, which is represented as O(p × q)/Oq.

For Any Firm Operating in Any Market Structure, Marginal Revenue