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Marginal revenue

Marginal Revenue is the extra revenue that an additional unit of product will bring a firm. It can also be described as the change in total revenue/change in number of units sold. Marginal Revenue, often abbreviated as MR, plays an important role in finding the profit-maximizing quantity, MR = MC. Marginal Revenue is a concept important in basic microeconomics.

Last updated: 01-04-2007 01:18:57
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