Firestone Notices That When the Number of Tires It Sells

question 222

Multiple Choice

Firestone notices that when the number of tires it sells increases from 1,000,000 to 1,000,001, total revenue rises $35. The $35 represents the firm's

• A)average revenue.
• B)marginal revenue.
• C)price elasticity.
• D)average variable revenue.
• E)average total cost.

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Definitions:

Title

Legal ownership of property, evidenced by a document or record.

Sale of Goods

A transaction between a buyer and a seller involving the exchange of tangible personal property for payment.

Gift

A voluntary transfer of property or funds from one person to another without expecting anything in return.

Written Confirmation

A documented acknowledgment that verifies and details the contents of a previous agreement or conversation.