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Marginal Stuff: Revenue, Cost, Profit, Product, & Return
Letโs get the terminology out of the way first. โMarginalโ means โfor the next unitโ.ย Thus: Marginal Revenue: The increase in revenue (sales) from producing and selling one additional unit of whatever it is youโre producing and selling Marginal Cost: The increase in cost (expenses) from producing and selling one additional unit of whatever it […]