For a Competitive Firm, Marginal Revenue Is

question 49

Multiple Choice

For a competitive firm, marginal revenue is

• A) total revenue divided by the quantity sold.
• B) equal to the quantity of the good sold.
• C) average revenue divided by the quantity sold.
• D) equal to the price of the good sold.

---

Definitions:

Average Cost

The total cost of production divided by the number of units produced, indicating the cost per unit.

Copper

A reddish-brown metal with high electrical and thermal conductivity, used extensively in electrical wiring and plumbing.

Zinc

A metallic element used primarily for galvanizing steel and iron products to prevent rust; also important in biology and nutrition.

Production Function

An analytical expression that shows how the amounts of different inputs determine the maximum quantity of output that can be produced.