The item numbered 3 in the accompanying figure is the ____.
Definitions:
Price Per Unit
The cost of a single unit of a product or service.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.
Marginal Revenue
Marginal revenue is the additional income earned from selling one more unit of a good or service.
Total Revenue
The overall amount of money generated by a business from its activities, such as sales of goods or services, before any expenses are subtracted.
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