Multiple Choice
The calculation of marginal revenue is best described by which of the following equations if R(q) equals total revenue for a given level of output (q) ?
A) marginal revenue = R(q) × R(q - 1)
B) marginal revenue = R(q) + R(q - 1)
C) marginal revenue = R(q) /R(q - 1)
D) marginal revenue = R(q) - R(q - 1)
E) marginal revenue = [R(q) + R(q - 1) ]/R(q)
Correct Answer:
Verified
Correct Answer:
Verified
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