| 1. | Therefore, marginal revenue will be less than price for the individual firm.
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| 2. | In the economist's jargon, marginal cost must be equated with marginal revenue.
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| 3. | This implies that a factor's price equals the factor's marginal revenue product.
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| 4. | A company maximizes profit by selling where marginal revenue equals marginal cost.
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| 5. | Demand is unit elastic at the quantity where marginal revenue is zero.
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| 6. | Under such market conditions, marginal revenue product will not equal MPP�Price.
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| 7. | Demand is inelastic at every quantity where marginal revenue is negative.
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| 8. | Excess capacity led to price-cutting for leisure travelers to bring in marginal revenue.
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| 9. | Marginal revenue equals zero when the total revenue curve has reached its maximum value.
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| 10. | The inverse demand function is useful in deriving the total and marginal revenue functions.
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