Marginal Revenue Product Is Defined as

question 173

Multiple Choice

Marginal revenue product is defined as

• A)the total revenue generated by inputs
• B)the additional output produced by one additional unit of a resource, other things constant
• C)the marginal revenue from each unit of output
• D)the total revenue divided by the number of resources employed
• E)the additional revenue generated by one additional unit of a resource, other things constant

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Definitions:

Formal Guidelines

Detailed instructions or rules officially established to guide actions or processes in specific situations.

Organizational Buying

All of the activities of organizational members as they define a buying situation and identify, evaluate, and choose among alternative brands and suppliers.

FAB Sequence

A sales technique that stands for Features, Advantages, and Benefits, aimed at highlighting a product's value to the customer.

Trial Close

A sales technique where the seller proposes a commitment question to gauge the buyer's readiness to make a purchase decision.