Marginal Cost = Marginal Revenue, or the derivative of the Total Revenue, which is price x quantity.
Marginal Revenue (MR) = Change in Total Revenue / Change in Q
Marginal revenue is the amount of revenue which comes from every increase of a unit sales of . take a example. 5 mangoes sold at 60 Rs. 6 mangos sold at Rs 70. Thus the marginal revenue for 6th mango is 10/- Rs . formula is marginal revenue = total sales value/ no of units (-) total sales value/ no of units {after adding the units)
I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"
price = marginal revenue. marginal revenue > average revenue. price > marginal cost. total revenue > marginal co
Marginal revenue is the change in total revenue over the change in output or productivity.
A company maximizes profits when marginal revenue equals marginal costs.
Marginal revenue is the amount of revenue which comes from every increase of a unit sales of . take a example. 5 mangoes sold at 60 Rs. 6 mangos sold at Rs 70. Thus the marginal revenue for 6th mango is 10/- Rs . formula is marginal revenue = total sales value/ no of units (-) total sales value/ no of units {after adding the units)
Explain why the marginal revenue(MR) is always less than the average revenue (AR)?
A monopolist will set production at a level where marginal cost is equal to marginal revenue.
what is average revenue?
marginal cost of production