Learn how monopolies maximize profits by equating marginal cost and revenue. Discover the economic principles guiding price and output decisions in monopoly markets.

Businesses of all sizes, including small businesses, can benefit from a basic understanding of specific economic concepts. Beyond the basic concepts of supply and demand, a small business owner must ...

"Marginal" revenue refers to the increase in revenue that a company receives when it sells one additional unit of a product. At first glance, you might assume that marginal revenue is simply the price ...

Marginal revenue and marginal benefits can help companies determine how much of a product to produce in order to maximize profits. Marginal benefit is a measure of a consumer's benefit of purchasing ...