If Marginal Revenue Is Positive

question 6

Multiple Choice

If marginal revenue is positive

• A) Total revenue is constant
• B) Total revenue falls
• C) Total revenue increases
• D) Profits increase

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Definitions:

Mailbox Rule

A legal principle stating that an offer is considered accepted once the acceptance is dispatched, not when it is received by the offeror.

Acceptance

In contract law, it refers to the act of agreeing to the terms of an offer, thereby creating a binding contract.

Valid Acceptance

An agreement to the terms of an offer in contract law, which results in a binding contract between the parties.

Valid Offer

A proposal made by one party to another intending to create a legally binding agreement that is specific, definitive, and capable of acceptance.