Becker Gilbert
Abstract
Abstract This article defines the term marginal revenue and demonstrates its relationship to the firm's goals of profit maximization and sales revenue maximization. The relation between a firm's marginal revenue and its output decision is also examined across different market structures.
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Abstract This article defines the term marginal revenue and demonstrates its relationship to the firm's goals of profit maximization and sales revenue maximization. The relation between a firm's marginal revenue and its output decision is also examined across different market structures.
Key concepts: Marginal revenue, Revenue, Marginal profit, Profit maximization, Marginal cost, Microeconomics, Profit (economics), Maximization