Asked by
Zakiya Brewer
on Nov 05, 2024
Verified
For a monopolist, if total revenue increases as output increases, then marginal revenue is
A) greater than the price.
B) zero.
C) positive.
D) negative.
Marginal Revenue
The income enhancement from the sale of one more unit of a product or service.
Total Revenue
The total amount of money a company receives from selling its goods or services, calculated by multiplying the price by the quantity sold.
- Comprehend the principle of marginal revenue and its impact on decision-making in a monopoly.
Verified Answer
DW
Learning Objectives
- Comprehend the principle of marginal revenue and its impact on decision-making in a monopoly.