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Economics
Quick fact
Under perfect competition, marginal revenue equals the market price. But for a monopoly, marginal revenue is always less than the price—a key reason why monopolies produce less than competitive firms.
Why this is interesting
Imagine you run a lemonade stand. When you sell one more cup, does that cup always add the same amount to your total revenue? Often it doesn't—and that's where marginal revenue comes in.
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Subjects · study & training · careers
Choose something you are considering. FACTREE will give you a clear picture of what it contains, how its main parts connect and where it could lead.
This private catalogue connects 31 subjects, study routes and careers across six broad areas. Public Maps and learner routes remain off.
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See what programming involves, how its main areas connect, and whether you find the knowledge interesting enough to take it further.
Structuring the Programming Map…
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