If you own a company or you are just naturally interested, you know that you would need to calculate marginal revenue.
Marginal revenue is in charge of measuring the change in total revenue of the different items; these are just some of the things that you have to do:
• Divide the change in total revenue by the change in total output quantity.
• The equation will look like this: Change in Revenue/Change in Quantity
• If it were in symbols, it would look like this: MR=TR/Q
• You can then place the numbers that will correspond to the formula.
• Compute and get the answer.
Take note that there are some online calculators that are available that you can use if you want to compute if the details that you have placed are correct.
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