Under microeconomic theory,total revenue will continue to increase,but the rate of increase will diminish as more and more units are sold.

Question

Quizplus · Accepted Answer

This is due to the law of diminishing marginal returns, which states that as more units of a good or service are produced, the marginal revenue generated by each additional unit will eventually diminish. Therefore, while total revenue will continue to increase, the rate at which it increases will slow down.

Under Microeconomic Theory,total Revenue Will Continue to Increase,but the Rate