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What is the impact of marginal productivity on a construction firm?
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∙ 9y ago
the impact of produvtivity
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∙ 9y ago
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When a firm's marginal revenues are higher than its marginal cost?
Marginal cost is
When a firm's marginal revenues are higher than its marginal cost?
Marginal cost is
Example of the law of diminishing marginal productivity?
The law of diminishing marginal product states that as a firm uses more of a variable resource with a fixed resource and fixed technology, the marginal product of the variable resource will fall. From related site.
Where will A profit maximizing firm produce?
Where the marginal benefits equal marginal costs.
If marginal revenue is greater than marginal cost the firm should?
If MR is greater than MC, the firm should increase their production. The ideal amount of production is determined by allowing the marginal cost to equal the marginal revenue.
What is Decreasing return?
what is the different between diminishing marginal productivity and decreasing return to scale?
When a firm hires a worker for one hour the marginal benefit to that firm equals the?
The marginal benefit will be the value added by that one hour of work. Say the worker is an economist and produces $50 worth of service work in that hour for the firm. The marginal benefit would be $50. If the worker is in production and spins $10 worth of thread into fabric the firm can sell for $100, then the value added (and the marginal benefit) is $90.
What circumstances cause a firm to experience diminishing marginal returns?
As the number of new employees increases the marginal product of an additional employee will be less than the previous employee which can cause a firm to experience diminishing marginal returns.
Is it profitable for a firm to continue employing additional resources as long as?
Marginal revenue product = marginal cost
The revenue received from the sale of an additional unit of a product is called what?
The marginal benefit to the firm
When was Çukurova - construction firm - created?
Çukurova - construction firm - was created in 1975.
When was Eser - Construction firm - created?
Eser - Construction firm - was created in 1986.
