What is the difference between Marginal cost marginal revenue?

Marginal cost refers to the additional cost incurred from producing one more unit of a good or service, reflecting the change in total cost when output is increased. In contrast, marginal revenue is the additional income received from selling one more unit of a good or service, representing the change in total revenue with an increase in sales. The relationship between these two concepts is crucial for businesses; ideally, a profit-maximizing firm will produce until marginal cost equals marginal revenue. This balance helps determine the optimal level of production.