Sergey Brin and Larry Page Were Both Twenty-Something Doctoral Students

question 5

Multiple Choice

Sergey Brin and Larry Page were both twenty-something doctoral students at Stanford University when they founded:

• A) Yahoo!
• B) YouTube.
• C) Google.
• D) Amazon.
• E) Napster.

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Definitions:

Marginal Revenue

The additional income generated from selling one more unit of a product or service.

Total Revenue

The total amount of money received by a firm from selling a certain quantity of goods or services, calculated as the price per unit times the number of units sold.

Marginal Revenue Curve

A graphical representation showing the change in total revenue that results from selling one additional unit of a good or service.

Profit Maximization Condition

The state or point at which a firm achieves the highest possible profit, often determined by the marginal cost equalling the marginal revenue.