If Marginal Revenue Is Negative Then the Revenue Lost from Receiving

question 266

True/False

If marginal revenue is negative then the revenue lost from receiving a lower price on all the units that could have been sold at the original price is smaller than the additional revenue from selling one more unit of the good.

---

Definitions:

Assault

An act of physical violence or a threat that places someone in immediate fear of bodily harm or offensive contact.

Bystander

A person who is present at an event or incident but does not take part.

Cognitive Dissonance

The psychological unease felt by someone who simultaneously possesses conflicting beliefs, ideas, or values.

Festinger

A psychologist known for developing the theory of cognitive dissonance, which describes the discomfort felt when holding conflicting beliefs or attitudes.