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 ...

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 ...

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 ...