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STILL is downward sloping, the firm will also have a downward sloping marginal revenue curve. As we talked about earlier in the semester, marginal cost
STILL is downward sloping, the firm will also have a downward sloping marginal revenue curve. As we talked about earlier in the semester, marginal cost curves tend to have a J- or U-shape. Before we go much further, let's recap what marginal revenue means. From class discussion, what is marginal revenue? Marginal revenue is total revenue minus total cost. Marginal revenue is another term for sales; it is price times quantity sold. Marginal revenue is the additional revenue that a firm gets when they sell one more unit of a good
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