When running a small business, decisions must be made to help ensure profit maximization and continued success. Understanding some of the basic economic principles at work behind the scenes can help ...

Understand the link between total and marginal revenue, their differences, and how to calculate marginal revenue effectively. Learn when a company should adjust production.

Your business's marginal revenue is the extra money made if you produce one more unit of a product or service. Knowing the marginal revenue from increasing sales can help you decide if expansion is ...