Marginal revenue
A) cannot be used to determine the profit-maximizing rate of production.
B) is the change in total revenues resulting from a change in output.
C) is a change in revenue that is immeasurable and non-quantifiable.
D) cannot be effectively utilized when analyzing the perfect competitor.
B
Economics
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An economy is at full employment. Which of the following events can create a recessionary gap?
A) an increase in foreign income B) an increase in taxes C) a decrease in the quantity of capital D) a decrease in money wages
Economics
If the real wage is below the equilibrium real wage, there would be a ________ of workers and the real wage would ________
A) surplus; decline B) surplus; rise C) shortage; decline D) shortage; rise
Economics