An Intermediate Good Would Be

question 95

Multiple Choice

An intermediate good would be:

• A) a new boat to be used for vacations.
• B) lumber used to build a house.
• C) payments to military personnel.
• D) a professor's salary.

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Definitions:

Marginal Revenue (MR)

Marginal Revenue is the additional income that is obtained from selling one more unit of a good or service.

Pure Monopolist

A market structure wherein a single company or entity has exclusive control over the production and sale of a particular product or service, with no close substitutes.

Marginal Revenue

The additional revenue that a company receives from selling one more unit of a product.

Incremental Sales

The increase in sales generated by a specific action or event, beyond what would normally have been expected.