Understand the link between total and marginal revenue, their differences, and how to calculate marginal revenue effectively. Learn when a company should adjust production.

Businesses and their customers constantly balance costs and benefits. A customer comparing menu prices decides which meal will give him the most pleasure for the price. Business production goals must ...

"Marginal" revenue refers to the increase in revenue that a company receives when it sells one additional unit of a product. At first glance, you might assume that marginal revenue is simply the price ...