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When Members of an Occupation Insist That People Earn Certain

question 52

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When members of an occupation insist that people earn certain credentials in order to enter the occupation,this is called:


Definitions:

Marginal Revenue

The extra revenue a company earns by selling an additional unit of a product or service.

Prices

The cash amount one needs to spend to obtain a good, service, or asset.

Marginal Cost

The uptick in cumulative expenses that comes from producing an additional unit of a product or service.

Total Revenue

The total receipts from sales of a given quantity of goods or services.

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