Question

What is the difference between marginal cost and marginal revenue?

Answer 1

marginal cost is an additional cost incured for the production of an extra unit of acommodity while marginal revenue is an additional income earned for the production of an extra unit of acommodity.

Answer 2

Step-by-step explanation:

Marginal Cost is the additional cost required to produce one more unit of output while Marginal Revenue is the additional amount of revenue gained after selling from increasing production by one more unit of output.