Changes

Jump to navigation Jump to search
→‎Honors: added another model answer
Line 52: Line 52:     
:"Marginal revenue must be zero when total revenue is maximized because marginal revenue is the additional revenue gained by selling one more unit. And total revenue is the revenue earned from all of your sales. If total revenue is maximized, that means you are earning all you can earn and selling all you can sell. Therefore, (since you can't sell anymore), you can't have marginal revenue (since that is revenue earned for selling one more unit)." (by student MY)
 
:"Marginal revenue must be zero when total revenue is maximized because marginal revenue is the additional revenue gained by selling one more unit. And total revenue is the revenue earned from all of your sales. If total revenue is maximized, that means you are earning all you can earn and selling all you can sell. Therefore, (since you can't sell anymore), you can't have marginal revenue (since that is revenue earned for selling one more unit)." (by student MY)
 +
 +
:"Marginal revenue must be zero when total revenue is maximized by the definitions of marginal and total revenue. Marginal revenue is the extra revenue generated by another unit of output, while total revenue is the revenue of a firm for its current output. If total revenue is maximized, any further increase in output would not result in increased revenue; therefore, marginal revenue is zero." (by student NL)
    
9.  Provide, in your own words, the best definition of "public good" that you can.
 
9.  Provide, in your own words, the best definition of "public good" that you can.
Anthony, Irenaeus, Siteadmin, apieditor, Bureaucrats, Check users, nsAm_Govt_101RO, nsAm_Govt_101RW, nsAm_Govt_101_ta, nsJudgesRO, nsJudgesRW, nsJudges_talkRO, nsJudges_talkRW, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, oversight, Administrators
126,620

edits

Navigation menu