Marginal revenue 


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Marginal revenueThe change in total revenue as a result of producing one additional unit of output.Marginal revenue Similar MatchesMarginal tax rateMarginal tax rateThe tax rate that would have to be paid on any additional dollars of taxable income earned. Marginal rate of transformationMarginal rate of transformationThe increase in output of one good made possible by a oneunit decrease in the output of another, given the technology and factor endowments of a country; thus the absolute value of the slope of the transformation curve. Marginal revenue productMarginal revenue productThe additional revenue generated by the extra output from employing one more unit of a factor of production. In a competitive industry this equals the marginal value product, but with imperfect competition it is smaller, due to the implied price reduction. Determines factor prices in competitive factor markets. Marginal tax rateMarginal tax rateThe additional tax which someone pays on each £1 increase of his or her taxable income. In the UK the tax bands for 20032004 tax year are:10 per cent on the first slice of earnings22 per cent on next slice40 per cent on top sliceUnder the 'progressive' tax system, once someone's earnings take him into the top tax bracket, any extra earnings will be taxed at the top rate. So someone who is in the 40 per cent bracket has a marginal tax rate of 40 per cent. Marginal productMarginal productIn a production function, the marginal product of a factor is the increase in output due to a unit increase in the input of the factor; that is, the partial derivative of the production function with respect to the factor. In a competitive equilibrium, the equilibrium price of any factor is its marginal value product in every sector where it is employed. Further SuggestionsMarginal propensity to saveMarginal Marginal value product Marginal propensity Marginal propensity to consume Marginal utility Marginal efficiency of capital Marginal rate of substitution Marginal propensity to import Value marginal product Marginal cost 
