Marginal Revenue Is the Addition to Total Revenue Resulting from the Addition

question 180

True/False

Marginal revenue is the addition to total revenue resulting from the addition of one unit to total output.

---

Definitions:

Producer Surplus

The variance between the amount sellers are ready to accept for a commodity or service and what they actually earn from it.

World Market

The international exchange of goods and services that transcends national borders, influenced by global supply and demand.

International Trade

The international trade involving the transfer of goods and services between countries or territories.

Employee Assistance Plans

Programs offered by employers to help employees deal with personal problems that might adversely affect their work performance, health, and well-being.