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- Subject
- Supply and Demandeconomics-mcqs › supply-and-demand
- Published
- 29 May 2019
- Last updated
- 28 May 2026
Marginal revenue refers to the ________ resulting from producing an additional ________ of output.
Multiple choice question for Supply and Demand. Select an option, then review the explanation below.
Explanation
Marginal revenue is defined as the change in total revenue that occurs when the quantity sold increases by one unit. It is not related to changes in average revenue or fixed costs.
More Supply and Demand MCQs
Practice related questions from the same subject.
- 1.What is the typical shape of a demand curve?
- 2.What term describes a company earning profits beyond its normal profit level?
- 3.How does an increase in marginal cost affect output, and how does an increase in marginal revenue impact output?
- 4.What are firms generally assumed to do with their costs and profits?
- 5.What term describes the added satisfaction gained from consuming an additional unit of a product?