marginal revenue 1
noundomain: possession
EnWordnet [ver.5.0]
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EnglishDefinition
the revenue that a company generates over what it previously generated for each additional unit of output.
Examples
- 1.Suppose a company generates $1000 in revenue from 100 units of a product (in other words $10 per unit), so in order to sell 101 units it may have to reduce its price to $9.99 per unit, in which case, its revenue becomes $1008.99 and thus, the marginal revenue is $8.99.
