-Refer to the Above Figure

question 28

Multiple Choice

-Refer to the above figure. The marginal benefit of pollution abatement is curve

• A) (1).
• B) (2).
• C) (3).
• D) (4).

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Definitions:

Marginal Revenue

The growth in income arising from the sale of an extra unit of a product or service.

Price Discriminate

The practice of selling the same product or service at different prices to different customers, based on factors such as willingness to pay, market segment, or purchase location.

Demand (D)

The quantity of a particular good or service that consumers are willing and able to purchase at various prices during a certain period of time.

Marginal Revenue (MR)

The additional revenue that a firm gains from selling one more unit of a good or service.