_________ refers to the change in total revenue that results from the sale of one more unit of a product.
A) Total revenue
B) Marginal revenue
C) Average revenue
D) Diminishing revenue
E) Economies of scale

Question

Quizplus · Accepted Answer

Marginal revenue refers to the change in total revenue from selling one more unit of a product. This is different from total revenue, which is the total amount of money earned from selling a certain quantity of a product, and average revenue, which is the revenue per unit sold. Diminishing revenue and economies of scale are not relevant to this definition.

_________ Refers to the Change in Total Revenue That Results