The added revenue that a firm takes in when it increases output by one additional unit is **marginal revenue**.

Marginal revenue is defined as the additional revenue gained from selling one more unit of a good or service. It is a key concept in economics as it helps firms make decisions about production levels, pricing, and overall market strategy. This term specifically refers to the change in total revenue that results from the sale of one additional unit, making it an essential factor in understanding how businesses operate in competitive markets.

In contrast, total revenue refers to the total amount of money generated by sales, variable revenue refers to costs that change with the level of output, and fixed revenue refers to costs that remain constant regardless of output. Thus, the correct answer is **marginal revenue**.

Question

The added revenue that a firm takes in when it increases output by one additional unit is **marginal revenue**.

Marginal revenue is defined as the additional revenue gained from selling one more unit of a good or service. It is a key concept in economics as it helps firms make decisions about production levels, pricing, and overall market strategy. This term specifically refers to the change in total revenue that results from the sale of one additional unit, making it an essential factor in understanding how businesses operate in competitive markets.

In contrast, total revenue refers to the total amount of money generated by sales, variable revenue refers to costs that change with the level of output, and fixed revenue refers to costs that remain constant regardless of output. Thus, the correct answer is **marginal revenue**.

Knowee AI · Accepted Answer

The added revenue that a firm takes in when it increases output by one additional unit is **marginal revenue**.

Marginal revenue is defined as the additional revenue gained from selling one more unit of a good or service. It is a key concept in economics as it helps firms make decisions about production levels, pricing, and overall market strategy. This term specifically refers to the change in total revenue that results from the sale of one additional unit, making it an essential factor in understanding how businesses operate in competitive markets.

In contrast, total revenue refers to the total amount of money generated by sales, variable revenue refers to costs that change with the level of output, and fixed revenue refers to costs that remain constant regardless of output. Thus, the correct answer is **marginal revenue**.

The added revenue that a firm takes in when it increases output by one additional unit is ________ revenue.Group of answer choicestotalmarginalvariablefixed

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The added revenue that a firm takes in when it increases output by one additional unit is ________ revenue.

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