If you know what marginal cost is, then you should know what marginal revenue is. It's the change in
a. total profit generated by a change in quantity
b. price generated by a change in quantity
c. total revenue generated by a change in quantity
d. output generated by a $1 change in price
e. average revenue generated by a change in quantity
C
Economics
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Briefly describe the Federal Reserve System, how it is governed, and its roles in the economy
What will be an ideal response?
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Describe the impact of contractionary fiscal policy (such as a decrease in government spending) upon Real GDP in both a closed economy and an open economy. In which type of economy would the change in Real GDP be greater?
Economics