Marginal Revenue (MR)
Definition
Marginal revenue refers to the additional revenue generated from selling one more unit of a product. It is calculated by dividing the change in total revenue by the change in quantity sold.
Related terms
Total Revenue (TR): Total revenue is the overall income earned from selling a certain quantity of goods or services.
Marginal Cost (MC): Marginal cost represents the additional cost incurred when producing one more unit of a product.
Price Elasticity of Demand (PED): Price elasticity of demand measures how responsive consumers are to changes in price.
"Marginal Revenue (MR)" appears in:
Study guides (4)
AP Microeconomics - 3.7 Perfect Competition
AP Microeconomics - 4.2 Monopolies
AP Microeconomics - 4.3 Price Discrimination
AP Microeconomics - 4.4 Monopolistic Competition
Additional resources (1)
AP Microeconomics - Introduction to Unit 3
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.