Marginal revenue is the change in

Question

BlackTom AI · Accepted Answer

Marginal revenue equals the additional total revenue obtained from selling one more unit of output.

Relevant concepts:
- Total revenue (TR) = Price (P) × Quantity (Q). 
- Marginal revenue (MR) is the change in TR when Q changes by one unit: MR = ΔTR / ΔQ. In continuous models MR is the derivative: MR = d(TR)/dQ = d[P(Q)·Q]/dQ = P(Q) + Q·dP/dQ.

Step-by-step reasoning:
1. Start with TR = P(Q)·Q. If output rises from Q to Q+1, the change in total revenue is ΔTR = TR(Q+1) − TR(Q). Dividing by the one-unit change gives MR = ΔTR.
2. Using calculus for a continuous change, MR = d(TR)/dQ = P + Q·dP/dQ. This expression still represents the incremental revenue associated with an extra unit; if price does not change with Q (perfect competition), dP/dQ = 0 and MR = P.
3. Example: If P = 10 (constant), TR = 10Q so MR = TR(Q+1) − TR(Q) = 10. If demand is downward sloping, e.g. P = 20 − 2Q, TR = 20Q − 2Q^2, then MR (derivative) = 20 − 4Q; the discrete one-unit change ΔTR = TR(Q+1) − TR(Q) will give the actual additional revenue from the next unit.

Why option b is correct:
- Option b explicitly states "total revenue resulting from a one unit change in output," which matches the definition MR = ΔTR for a one-unit increase in output.

Why other options are incorrect:
- a. Price resulting from a one unit change in output describes the change in P, not the change in TR. That would be dP/dQ, not MR.
- c. Total revenue from an additional worker refers to marginal revenue product of labor (MRP = MR × marginal product of labor), not marginal revenue itself.
- d. Total revenue resulting from a change in marginal cost mixes revenue and cost concepts; MR is independent of changes in marginal cost.

Conclusion: The correct answer is b. This matches the provided answer.

Marginal revenue is the change in单项选择题

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