Marginal Revenue Is Defined as

question 212

Multiple Choice

Marginal revenue is defined as

• A)the change in total revenue from a unit change in price.
• B)the change in average revenue from a one-unit change in output.
• C)the change in total revenue from a one-unit change in output.
• D)the change total cost from a one-unit change in output.

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Definitions:

Cost of Goods Sold

An accounting term that refers to the direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.

Professional Service Firms

Businesses that provide specialized expertise or services to clients, such as consulting, accounting, law, and engineering services.

Chargeout Rates

The rate or price that businesses charge external clients for services or goods, typically used in professional sectors to bill hours worked.

Fixed Costs

Costs that do not change with the amount of goods or services produced by a business.