When the Price of a Good Is a Constant, the Marginal

question 214

Multiple Choice

When the price of a good is a constant, the marginal revenue per unit of output is the same as:

• A) total revenue.
• B) average total cost.
• C) price.
• D) quantity of output.
• E) profit per unit.

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Definitions:

Economic Growth

A rise in the economic power to produce goods and services when comparing distinct periods.

Capital Formation

The process of accumulating assets and investments that are used for future production or economic growth.

World Bank

An international monetary organization granting loans and finances to governments of less affluent countries for capital project undertakings.

Developing Nations

Countries with lower levels of industrialization, lower standards of living, and lower Human Development Index (HDI) scores compared to more developed countries.