You can plot your marginal revenue curve on the same graph as your demand curve. For 11 sales, the demand curve shows a price of $4.95 – but the marginal revenue from that 11th sale is $4.45.

Conversely, a big idea can make your product a monopoly in its category. Here, I will try to answer several common questions related to big ideas and monopolies more generally.

Monopoly, inspired by the Landlord’s Game and patented and commercialized by Parker Brothers, was a huge success in the early 1930s. Its “inventor,” Charles Darrow, made millions with the ...

A monopoly happens when a business dominates an industry or sector and can therefore control price changes and create entry barriers for competitors. It’s often used as shorthand in the eyes of ...