Define marginal revenew
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Sonali Aggarwal 5 years, 8 months ago
In microeconomics, marginal revenue (R') is the additional revenue that will be generated by increasing product sales by one unit. It can also be described as the unit revenue the last item sold has generated for the firm.In a perfectly competetive market, the additional revenue generated by selling an additional unit of a good is equal to the price the firm is able to charge the buyer of the good.
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