It Is Not Necessary to Assign Dollar Values to Intangible

question 51

True/False

It is not necessary to assign dollar values to intangible costs and benefits; it is almost impossible to come up with reasonable numbers for all of the costs and benefits that haven't happened yet.

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Definitions:

Marginal Revenue

The revenue increase resulting from the sale of an extra unit of a good or service.

Monopolistically Competitive

A market structure in which several or many sellers each produce similar, but slightly differentiated products; competition is based on product differentiation, prices, and marketing.

Monopolistically Competitive

A market structure characterized by many firms selling products that are substitutes but not perfect substitutes, leading to some degree of market power for each firm.

Fixed Costs

Costs that do not change with the level of output produced, such as rent, salaries, and loan repayments.