question archive 1)Marginal Revenue is A
1)Marginal Revenue is A
Subject:BusinessPrice: Bought3
1)Marginal Revenue is
A. the change in total revenues resulting from a change in output of one unit of the product in question. It is the change in total revenue divided by the change in output.
B. the change in costs resulting from a change in input of one unit of the output in question. It is the estimated change in total costs times the total change in the cost of the last input.
C. the change in losses resulting from a change in the last input of an employee. It is the change in marginal losses divided by the number of employees needed to produce the last break-even point.
D. None of the above.
2.Generally, the short-run shutdown is the price that just covers average variable costs. True or False?
3.A product that an individual must consume before the product's quality can be established is classified as
A. credence and search good
B. credence good
C. search good
D. experience good
