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Simple English definitions for legal terms

marginal revenue

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A quick definition of marginal revenue:

Definition: Marginal revenue is the extra money a company makes by selling one more unit of a product. It is the difference between the revenue earned from selling the last unit and the revenue earned from selling the second-to-last unit. For example, if a company sells 10 units of a product for $100 and then sells 11 units for $110, the marginal revenue for the 11th unit is $10.

A more thorough explanation:

Marginal revenue refers to the additional revenue earned from the sale of one more unit of a product or service.

If a company sells 100 units of a product for $10 each and then sells 101 units for $9.50 each, the marginal revenue for the 101st unit is $9.50.
A restaurant that sells 50 meals for $20 each and then sells 51 meals for $19 each has a marginal revenue of $19.

These examples show how marginal revenue is calculated by looking at the change in revenue from selling one additional unit. In both cases, the marginal revenue is lower than the previous unit's price because the company had to lower the price to sell the additional unit.

margin account | margin call

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

UsefulNappyClown

23:32

lol I get that urge. I ended up just splitting my personal statement and filling it out a bit

InsipidLemon

23:42

hi guys, if I am applying now and just got a full time job, does that count as 1 yr WE?

RustyWrangler

23:56

Yes

InsipidLemon

23:57

thanks!

RustyWrangler

23:59

Np!

InsipidLemon

0:01

actually can I ask u another question? How do you get CAS fees waived by schools? Is that unsolicited or is it normally solicited?

Dkkm11

0:51

Lol, with the gtown essay last year, I shared a top 10 wine/sake list. Love that they still have the cop-out response.

Dkkm11

0:51

@KeenHeartbreakingRattlesnake: 100% unless you write something absolutley dimwit.

Dkkm11

0:52

oops. tagged the wrong person cus I am drunk. @usefulNappyClown

Dkkm11

0:53

@InsipidLemon: really depends on how much they like you. Some schools will give it to you unsolicited, others you must ask.

PheonixWright

3:23

I decided to apply to ASU because why not cause I saw they waived the application and CAS fee

PheonixWright

3:24

It only took like 15 minutes

StandingOnBusiness

3:43

same here, i qualify for AZ residency so i figured it wouldn't be a bad thing to toss in the mix

StandingOnBusiness

3:44

20 business day admissions decision turnaround is lit

ChowieBean

9:31

morning friends

ChowieBean

9:32

it's a personal statement and essay grind typa day

ErraticFearlessGecko

10:01

Hi chowie

ErraticFearlessGecko

10:01

How'd you feel about your test

info-man

10:01

good morning y'all

ErraticFearlessGecko

10:01

Morning

ChowieBean

10:37

Gecko, I feel pretty good. Two of the RC passages had really tough inference questions -- hoping I narrowed down my answer choices correctly

ChowieBean

10:38

Very happy with LR other than having to guess on a couple questions cuz of time

ChowieBean

10:42

i have a question about my personal statement. in my activism for the hospitality workers' union, i organized and spoke up in favor of stronger regulations on airbnb because the unregulated spread of airbnb throughout LA was inflating housing costs for workers and threatening their job security. do you think it's too divisive to mention regulating airbnb? idk

Nostradumbass

10:44

I wrote mine about how all activists should be consolidated into a large smelting pot and refined down to a viscous goo

Nostradumbass

10:45

Expecting a lot of rejections though

ChowieBean

11:07

I'm sure you'll get a full ride to a few schools :P

HowlEngineer

11:11

The impression I get is most schools try not to judge based on the political implications of what you write about. They probably care more that you saw a problem and tried to fix it. That seems like a great thing to write a PS about @chowie

HowlEngineer

11:18

Besides, if a school didn’t let you in for trying to fix a problem you saw in your community, that doesn’t say great things about your school’s culture (assuming the thing you did showed good common sense judgment ofc)

HowlEngineer

11:19

That school’s* culture

ChowieBean

11:23

Thanks Howl you're right :D I def talked about solving problems in my PS

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