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12 cards from this deck
Impact of one more unit
Additional satisfaction from consuming one more unit
Overall satisfaction from total quantity consumed
Additional satisfaction decreases with each extra unit consumed
Additional cost of producing one more unit
Additional revenue from selling one more unit
MC=ΔTCΔQMC = \frac{\Delta TC}{\Delta Q}MC=ΔQΔTC
MR=ΔTRΔQMR = \frac{\Delta TR}{\Delta Q}MR=ΔQΔTR
MU=ΔTUΔQMU = \frac{\Delta TU}{\Delta Q}MU=ΔQΔTU
Downward from left to right
Due to diminishing marginal utility
When MR > MC (marginal revenue exceeds marginal cost)
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