change in total revenue that results from producing and marketing one additional unit of a product is referred to as __________.
A) break-even revenue
B) marginal cost
C) elasticity of demand
D) unit variable cost
E) marginal revenue

Question

Quizplus · Accepted Answer

The change in total revenue resulting from producing and marketing one additional unit is referred to as marginal revenue. Marginal cost (B) is the increase in cost when producing an additional unit. Elasticity of demand (C) refers to the responsiveness of quantity demanded to changes in price. Break-even revenue (A) is the sales revenue needed to cover all costs and achieve zero profits. Unit variable cost (D) is the cost that varies depending on the production level.

Change in Total Revenue That Results from Producing and Marketing