History, 08.07.2019 07:00 deedee363

What is the best definition of marginal revenue? a) the possible income from producing an additional item b) the price of producing one additional unit of a good c) the additional income gained from selling an additional good d) the financial gain from business activity minus expenses

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Answer from: fespinoza019

ANSWER:

C) the additional income gained from selling an additional good

EXPLANATION:

Marginal revenue is the extra pay produced from the offer of one more unit of a decent or benefit. Marginal revenue is critical in the monetary hypothesis in light of the fact that a benefit expanding firm will create up to the point where minor income (MR) breaks even with minimal cost (MC).

Answer from: zazy15

The best definition of Marginal Revenue is that it is the additional income gained from selling additional goods.

Further Explanations:

Marginal Revenue is defined as the additional income that is gained from the sale of one or more units of services or the goods. It can accurately be calculated by comparing the revenue generated by comparing the total quantity of the sale to the total amount of the revenue generated by selling the extra units. In a competitive market, the additional revenue generated is the price that the firm can charge to the buyers and is generated because the firms in the competitive market the price of the goods is fixed regardless of the quantity of the product sold.

It can also be described as the monopoly of the entrepreneur that also resulted in a lowering of the price of all units sold to increase the sale. A firm’s profit gets maximized when “Marginal Cost” equals “Marginal Revenue”.

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Answer Details:

Grade: High school

Subject: History

Chapter: Marginal Cost

Keywords: Marginal Revenue, sale, competitive market, extra units, product, sold, monopoly, entrepreneur, Marginal Cost, Marginal Revenue.

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