Question

What is the difference between marginal cost and marginal revenue?

Answer 1

I hope this helps

so at this point next unit produced will have a higher marginal cost. marginal revenue is similar to marginal cost. marginal revenue is change in total revenue when extra unit of product is sold. if a business sells all of it's goods at market price then the marginal revenue is equal to that of market price

Answer 2

Answer: Choice B

Marginal cost is the money it costs to pay for producing one more good

Marginal revenue is the money you pull in or make for selling that one extra good

The term "marginal" means "extra". Think of the margins on your paper which are on the side.