marginal revenue mrthis is the increase in total, Managerial Economics

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marginal revenue mrthis is the increase in total

Marginal Revenue (MR)

This is the increase in Total Revenue resulting from the sale of an extra unit of output. Thus, if TR_n-1 is Total Revenue from the sale of (n-1) units and TRn is total revenue from the sale of n units, then the marginal revenue of the nth unit is given as:

dTR = P(1 - 1/Ed) or TRn - TRn - 1

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