What is the difference between marginal cost and marginal revenue?

Marginal cost is the money earned from selling one more unit of a good. Marginal revenue is the money paid for producing

one more unit of a good

Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling

one more unit of a good.

Marginal cost is the money a producer might make from one more unit. Marginal revenue is the money a producer actually

makes from one more unit.

Marginal cost is the money a producer actually makes from one more unit. Marginal revenue is the money a producer

might make from one more unit.

Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling one more unit of a good.

Explanation:

Marginal cost is the extra expense incurred by producing an additional unit. The marginal cost concept is useful in determining whether continuing in production is profitable or not. Marginal revenue is the additional benefit derived by selling one more unit.

Profit-maximizing firms make comparisons between marginal revenues and marginal costs to determine when to stop production. Ideally, the firms should continue production and selling activities until marginal revenue equals marginal cost. Should selling happen when marginal cost is greater than marginal revenue, the firm will make losses.