Consumer surplus increases when the market price of a commodity declines.
Indicate whether the statement is true or false
Question 2
Which of the following is true of marginal revenue?
a. Marginal revenue equals total revenue divided by quantity.
b. Marginal revenue is the slope of the supply curve of a firm.
c. Marginal revenue is the slope of the total cost curve when profit is maximized.
d. Marginal revenue equals the change in total revenue due to an additional unit of output.
e. Marginal revenue equals the income earned by selling stocks on the margin.
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