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

Question

Quizplus · Accepted Answer

Marginal revenue is defined as the change in total revenue generated by a change in quantity sold. This concept is crucial in economics and business for understanding how additional units of a product sold affect the overall revenue of a company.

If You Know What Marginal Cost Is, Then You Should