Marginal revenue is the change in total revenue derived from selling one additional unit of a good or service.
Detailed Explanation:
When the marginal benefit is money, economists use the term marginal revenue. Assume a grocery store normally sells a gallon of milk for $3. A tropical storm is anticipated within 48 hours. People are flocking to the store to stock up on groceries. The manager seizes the opportunity and raises his price to $4 per gallon. The marginal revenue, or the revenue from his next sale, equals $4 per gallon. (See Marginal Benefit.)
