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Marginal revenue is the change in Group of answer choices None of the Answers are Correct. Total revenue when output is changed. Total revenue when price is changed. Average revenue when output is changed. Average revenue when price is changed.

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Marginal revenue is the change in total revenue when output is changed.

Marginal revenue refers to the increase in revenue that is a consequence of the sale of an additional unit of output.

  • When the level of output increases, marginal revenue decreases as the law of diminishing returns operates.
  • Marginal revenue also refers to the gradual increase in income owing to the sale of an additional unit of output.
  • In a perfectly competitive market, companies seek to produce output to the degree where marginal revenue equals marginal cost.
  • Total output change is linked to the change in total revenue that results in marginal revenue.
  • Marginal revenue helps determine the revenue generation from an additional unit of production which is beneficial for companies seeking to increase profits.

Therefore, marginal revenue is the change in total revenue when output is changed.

Learn more about marginal revenue here: https://brainly.com/question/25623677

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