Marginal Revenue
The change in total revenue from the sale of one additional unit. For a perfectly competitive firm (or price-taker), marginal revenue is equal to price. For a firm with a downward sloping demand, marginal revenue is less than price.
The change in total revenue from the sale of one additional unit. For a perfectly competitive firm (or price-taker), marginal revenue is equal to price. For a firm with a downward sloping demand, marginal revenue is less than price.