If the output of a firm is increased by one unit, the revenue addition is called
A) total revenue.
B) average revenue.
C) marginal revenue.
D) economic profit.
Correct Answer:
Verified
Q123: Average cost equals
A)change in total cost/change in
Q124: Bob goes to his favorite hot dog
Q125: Whenever average cost exceeds marginal cost,
A)average cost
Q126: Marginal cost
A)equals the slope of the total
Q127: Figure 8-1 Q129: The total cost curve generally has Q130: Figure 8-2 Q131: At its current level of output, a Q132: Figure 8-3 Q133: A grocery store sells soup for $1.50 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)slope values
