Marginaalitulot

Marginaalitulot refers to the additional income generated from selling one more unit of a good or service. It is a key concept in economics, particularly in microeconomics and the theory of the firm. The calculation of marginal revenue is straightforward: it is the change in total revenue divided by the change in quantity sold. In a perfectly competitive market, marginal revenue is equal to the price of the good, as firms are price takers and can sell as much as they want at the prevailing market price. However, in imperfectly competitive markets, such as monopolies or oligopolies, firms typically face a downward-sloping demand curve. This means that to sell an additional unit, a firm must lower the price not only on that unit but also on all previous units. Consequently, marginal revenue is less than the price in these market structures. Firms aim to maximize profits by producing at the output level where marginal revenue equals marginal cost. Understanding marginal revenue is crucial for making optimal production and pricing decisions.