When Marginal Revenue Is Positive

question 48

Multiple Choice

When marginal revenue is positive,

• A) demand is elastic.
• B) marginal revenue is greater than price.
• C) decreasing price will decrease total revenue.
• D) both b and c
• E) all of the above

Understand the implications of errors in inventory counting and their effects on financial statements.

Apply the lower of cost or market rule to inventory valuation.

Analyze the effect of internal control measures on inventory management and reporting.

Understand the treatment of consignment goods, goods in transit, and returns on inventory counts and financial reporting.

---

Definitions:

Justification

The action of showing something to be right or reasonable, or the reasoning behind such a demonstration.

Premise

A foundational statement or principle from which a conclusion is logically derived.

EI

This is an abbreviation for Existential Import, which suggests that for a proposition to be true, the entities mentioned in it must actually exist.

DM

Direct Message; a private form of communication between social media users.