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 ...

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

"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 ...