Which of the Following Equations Accurately Describes the Marginal Revenue

question 55

Multiple Choice

Which of the following equations accurately describes the marginal revenue of a monopolist?

• A)MR(y)= (p/y)(1/slope)
• B)MR(y)= py - (1/slope)
• C)MR(y)= p - y(slope)
• D)MR(y)= d(AR)/dy

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Definitions:

Great Society

A set of domestic programs in the United States initiated by President Lyndon B. Johnson aimed at eliminating poverty and racial injustice.

Bracero Program

System agreed to by Mexican and American governments in 1942 under which tens of thousands of Mexicans entered the United States to work temporarily in agricultural jobs in the Southwest; lasted until 1964 and inhibited labor organization among farm workers since braceros could be deported at any time.

Puerto Rican Migrants

Individuals from Puerto Rico who move to other regions or countries, often for economic, social, or political reasons.

Agribusiness

The industry involved in the production, processing, and distribution of agricultural products.