Which of the following statements is true about marginal revenue?
a) If marginal revenue is zero, it means that quantity demanded falls to zero when a firm changes its price.
b) If marginal revenue is negative, the additional revenue received from selling 1 more unit of the good is smaller than the revenue lost from receiving a lower price on all the units that could have been sold at the original price.
c) If marginal revenue is positive, the additional revenue received from selling 1 more unit of the good is smaller than the revenue lost from receiving a lower price on all the units that could have been sold at the original price.
d) Marginal revenue increases as price falls and quantity sold increases.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following statements is true about marginal revenue? a) If marginal revenue is zero, it means that quantity demanded falls to ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Managers who believe job enrichment can effectively improve motivation would try to give employees a significant degree of freedom and flexibility in scheduling their work and in determining the procedures they use. A. True. B. False.
Answers (1)
The Law of Supply states Group of answer choices A. the quantity supplied varies irregularly with its price B. the qantity demanded varies inversely with its price C. the quantitiy supplied varies inversely with its price D.
Answers (1)
Excess capacity A) allows a facility to be very flexible and to respond to wide swings in the demands placed on it. B) costs money and therefore can decrease efficiency. C) requires proximity to customers and the rest of the network.
Answers (1)
In a normal costing system, the cost of a job includes A. actual direct materials, actual direct labor, and estimated (applied) overhead. B. estimated direct materials, estimated direct labor, and estimated overhead. C.
Answers (1)
When working to create a collaborative working climate, how can a team member encourage participation in decision making?
Answers (1)
New Questions in Business
Charm Co. owns a delivery truck with an original cost of $10,000 and accumulated depreciation of $7,000. Charm acquired a new truck by exchanging the old truck and paying $2,000 in cash.
Answers (1)
On July 1st, Harding Construction purchases a bulldozer for $228,000. The equipment has a 8 year life with a residual value of $16,000. Harding uses straight-line depreciation.
Answers (1)
Which of the following refers to the costs of production that fluctuate depending on the number of units produced? A. Total cost B. Contribution per unit C. Markup D. Variable cost E. Fixed cost
Answers (1)
Your assistant wants to use secondary data exclusively for the current research project. You advise him that the use of secondary data has some potential problems. Which of the following is NOT one of them? A) It may not exist.
Answers (1)
Emma is babysitting Laura's children. Emma turns on the stove to make dinner, but a flame shoots out and burns Emma's hand. Later, Laura realizes she forgot to tell Emma not to turn on the stove. Which type of insurance is needed?
Answers (1)