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When will be marginal revenue maximized?
At the beggining of the MR curve, the first instance of output, from then on, MR falls until it hits 0 at the point where total revenue is max.
What is a business firm's marginal cost?
Marginal cost, which is the cost of producing one more unit of output, helps determine the level at which profits will be maximized.
Profits will be maximized when marginal revenue?
Profits will be maximized when marginal revenue is equal to marginal costs. This will only happen in cases where there are fixed costs.
What is marginal output?
The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.
A producers profits are maximized when marginal costs are?
equal to marginal revenue
When total product is maximized marginal product is?
mp = 0
When will be marginal revenue maximized?
At the beggining of the MR curve, the first instance of output, from then on, MR falls until it hits 0 at the point where total revenue is max.
What is a business firm's marginal cost?
Marginal cost, which is the cost of producing one more unit of output, helps determine the level at which profits will be maximized.
Profits will be maximized when marginal revenue?
Profits will be maximized when marginal revenue is equal to marginal costs. This will only happen in cases where there are fixed costs.
What is marginal output?
The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.
A producers profits are maximized when marginal costs are?
equal to marginal revenue
What happens when marginal revenue equals marginal cost?
profit is maximized
A producers profits are maximized when marginal costs are .?
equal to marginal revenue
When is economic surplus maximized?
when the marginal benefit of consumption is equal to the marginal cost of production.
What is marginal revenue?
Marginal revenue is the change in total revenue over the change in output or productivity.
What happens when the slope of the total revenue curve is equal to the slope of the total cost curve?
a. monopoly profit is maximized. b. marginal revenue equals marginal cost. c. the marginal cost curve intersects the total average cost curve. d. the total cost curve is at its minimum. e. Both A and B
If you have Marginal Cost and Marginal Damages how do you find the optimal level of output?
The optimal level of output is where marginal costs = marginal damages.
