how to calculate MR in economics
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A company calculates marginal revenue by dividing the change in total revenue by the change in total output quantity. Therefore, the sale price of a single additional item sold equals marginal revenue. For example, a company sells its first 100 items for a total of $1,000.
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A company calculates marginal revenue by dividing the change in total revenue by the change in total output quantity. Therefore, the sale price of a single additional item sold equals marginal revenue. For example, a company sells its first 100 items for a total of $1,000.
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