Net revenue is defined as A) marginal revenue minus marginal ...

[fbq8i]

Net revenue is defined as
 
  A) marginal revenue minus marginal cost.
  B) total revenue minus marginal cost.
  C) total revenue minus total cost.
  D) gross revenue minus depreciation.

Question 2

Consumers' income declines and, as a result, the demand for margarine increases. Is margarine a normal or an inferior good? Explain.
 
  What will be an ideal response?

[Ahnyah]

Answer to Question 1

C

Answer to Question 2

Margarine is an inferior good. An inferior good is one for which demand increases as income decreases, which describes the situation outlined for margarine in the question.

[fbq8i]

Thanks for the timely response, appreciate it

[nanny]

Excellent