[This is part of the series: The Complete Guide To Economics 101.]
What is marginal revenue?
Marginal Revenue is the additional revenue that you get from selling one more unit of a good or service.
More firms in a competitive market, the marginal revenue is the same as the price, and also the same as the average revenue.
However, if a firm must lower prices to sell more units, the marginal revenue, the price of the good, and the average revenue will not all be the same.