Business Calculus MCQ

1. What is Marginal Revenue?

Answer

Correct Answer: The extra revenue for selling one additional unit

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2. What does the equation R(x) or xp(x) represent?

Answer

Correct Answer: Total revenue generated from selling x units

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3. What is a Demand/Price Function?

Answer

Correct Answer: The price per unit that the company can charge if it sells x units; p(x)

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4. What is the definition of Marginal Cost?

Answer

Correct Answer: The cost of producing one additional unit

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5. What is the cost function?

Answer

Correct Answer: The cost of producing x units of a certain product.

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