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Marginal Revenue (MR)
This is the increase in Total Revenue resulting from the sale of an extra unit of output. Thus, if TRn-1 is Total Revenue from the sale of (n-1) units and TRn is total revenue from the sale of n units, then the marginal revenue of the nth unit is given as:
dTR = P(1 - 1/Ed) or TRn - TRn - 1
dQ
100 schools are given exactly one million dollars each in grant money. They can spend the money on any or all of three programs: math tutoring (math), kickball lessons (kickball),
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TC=100+0.15Q, Qu=1000-10Pu
definition of discounting concept
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