Marginal revenue

 

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Marginal revenue

The change in total revenue as a result of producing one additional unit of output.



Marginal revenue

Similar Matches

Marginal tax rate

Marginal tax rate

The tax rate that would have to be paid on any additional dollars of taxable income earned.


Marginal rate of transformation

Marginal rate of transformation

The increase in output of one good made possible by a one-unit 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 product

Marginal revenue product

The 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 rate

Marginal tax rate

The additional tax which someone pays on each 1 increase of his or her taxable income. In the UK the tax bands for 2003-2004 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 product

Marginal product

In 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 Suggestions

Marginal propensity to save
Marginal
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


 
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