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What is relationship between marginal revenue and marginal cost?

April 26, 2017COST Marginal relationship revenue

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What is relationship between marginal revenue and marginal cost?

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Marginal Revenue is an additional revenue that an extra unit of product will bring to an organization. It is the change in total revenue/change in number of units sold. On the other hand, marginal cost is the change in total cost which arises when the quantity produced changes by one unit.