The change in total revenue that results from a one-unit increase in quantity sold is:
A) Marginal cost.
B) Marginal revenue.
C) Marginal profit.
D) Total revenue.

Question

Quizplus · Accepted Answer

The change in total revenue that results from a one-unit increase in quantity sold is known as marginal revenue. Marginal cost is the change in total cost resulting from a one-unit increase in quantity produced. Marginal profit is the change in total profit resulting from a one-unit increase in quantity sold. Total revenue refers to the total amount of revenue generated from the sale of a certain quantity of goods or services.

The Change in Total Revenue That Results from a One-Unit