Respuesta :
Answer:
Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling one more unit of a good.
Explanation:
While revenue (which is also known as sales) refer to money earned from the sale of goods or rendering or service, cost refers to the expenses incurred in the process of generating the revenue.
Marginal in economics refers to additional unit and as such,
- Marginal revenue is the amount earned from the sale of an additional unit of an item while
- Marginal cost is the money paid or cost incurred in producing an additional unit of an item.
The money being spent on producing one more unit of an item is defined as marginal cost. The money earned by selling one more unit of an item is known as marginal revenue.
While income (also known as sales) relates to money earned through the sale of products or perhaps the rendering of services, cost relates to the cost incurred in the process of earning revenue.
In economics, the term marginal refers to an extra unit.
The amount received from the sale of an additional unit of an item is known as marginal revenue, whereas marginal cost is the money spent or expense incurred in manufacturing an extra unit of an item.
To know more about the difference between marginal cost and marginal revenue, refer to the link below:
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