The per unit price at which goods or services are offered by a business to their customers is called

• Average revenue

• Marginal revenue

• Variable cost

• Total revenue

A negative difference between the revenues taken in by a business and the costs of operating a business (when a business spends more than it makes) :(

• Profit

• Breakeven

• Loss

• Closed

A positive difference between the revenues taken in by a business and the costs of operating a business (when a business makes more than it spends). :D

• Loss

• Profit

• Breakeven

• Sales

The income (amount of money) a business receives for in exchange for a product or service

• Costs

• Profit

• Loss

• Sales revenue

When MR is constant, TR ............

• Rises at a falling rate

• Rises at a constant rate

• Rises at an increasing rate

• Remains constant

If AR & MR are equal, more output can be sold by lowering price. (True/false)

• True

• false

Average revenue can never be negative. (True/False)

• False

• True

TR curve starts from

• Y axis

• X axis

• Origin

• negative X axis