Businesses of all sizes, including small businesses, can benefit from a basic understanding of specific economic concepts. Beyond the basic concepts of supply and demand, a small business owner must ...

Estimate demand function to understand initial product pricing vs. quantity. Use derivative for the revenue equation to find marginal revenue changes. Marginal revenue derivative is a tool to guide ...

Decisions on whether to increase production can usually be boiled down to a simple question of costs vs. benefits: Will the extra money you make from increasing your output be worth the additional ...

Marginal revenue and marginal cost are essential calculations that help companies analyze and maximize their profits. Taken together, marginal revenue and marginal cost are used to determine how many ...

Marginal revenue and marginal benefits can help companies determine how much of a product to produce in order to maximize profits. Marginal benefit is a measure of a consumer's benefit of purchasing ...