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What is the difference between marginal cost and marginal revenue?

Marginal cost is the money earned from selling one more unit of a good. Marginal revenue is the money paid for producing one more unit of a good.

Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling one more unit of a good.

Marginal cost is the money a producer might make from one more unit. Marginal revenue is the money a producer actually makes from one more unit.

Marginal cost is the money a producer actually makes from one more unit. Marginal revenue is the money a producer might make from one more unit.

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Brenda’s Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor. What is the total revenue the company makes after selling 10 boards?

$300

$350

$400

$450

The Davis family grows organic vegetables to sell at a local farmer’s market. Which are factors that directly affect their profit? Check all that apply.an increase in the cost of farm equipmenta rise in demand for organic producean increase in customers at the marketa change in the market price for non-organic fruita sale on organic meats at the market

an increase in the cost of farm equipment

a rise in demand for organic produce

an increase in customers at the market

a change in the market price for non-organic fruit

a sale on organic meats at the market

The chart shows the marginal revenue of producing apple pies.According to the chart, the marginal revenue

decreases by ten dollars as production increases.

increases by ten dollars as production increases.

falls to zero dollars as production increases.

remains the same as production increases.

What is the best definition of marginal cost?

the possible income from producing an additional item

the price of producing one additional unit of a good

the additional income gained from selling an additional good

the financial gain from business activity minus expenses

Profit equals the total amount of money made minus

expenses.

prices.

revenue.

supply.

$300

$350

$3,000

$3,500

What is the difference between profit and revenue?

Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after subtracting the production costs.

Revenue is the total amount producers earn after subtracting the production costs. Profit is the total amount producers receive after selling a good.

Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers earn after subtracting the production costs.

Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers receive after selling a good.

1.00.50.251.25

1.00

.50

.25

1.25

South Avenue Publishing produces self-help books. The company’s profit is the

money the company earns after paying all of its production costs.

paper, binding, and other supplies the company purchases.

total amount the company receives from the sale of its books.

amount of money the company earns from selling a single book.

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