MGT 103 STUDY FINAL Questions And
Answers
Total Revenue Price x Quantity
Average Revenue Total revenue received divided by the number of units sold. Usually,
price is equal to average revenue.
Marginal Revenue The change in total revenue that results from the sale of 1 additional
unit of a...
Customer service Factors Time, dependability, communication, convenience
Marketing channel individuals and firms involved in the process of making a product or
service available for use or consumption by consumers or industrial users
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