Monopolies are quite common in business. If you offer a product or service that no one else has, then you possess a monopoly. In time, competitors probably will aim to match or improve upon your ...

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 ...

Marginal revenue measures extra income from producing one more unit. Compare marginal revenue and cost to decide on production adjustments. Track marginal revenue changes to set optimal production and ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Eric's career includes extensive work in ...

Marginal cost helps predict company profit by analyzing cost to produce extra units. Investors use the gap between marginal cost and revenue to assess profitability. Technology firms, due to low ...