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How does the relationship between marginal cost and marginal benefit impact producer?
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∙ 9y ago
It helps producers decide how much of a good to make.
Marvin Schuster
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How does the relationship between marginal cost and marginal benefit impact producers?
It helps producers decide how much of a good to make.
How does the relationship between marginal benefit impact producers?
It helps producers decide how much of a good to make.
What is the relationship between marginal physical product MPP and marginal cost MC Provide an examples?
what is the relationship between marginal physical product and marginal cos
Relationship between total and marginal product?
Total product is the sum of all marginal products.
Marginal product curve?
A marginal product curve is a visual presentation that demonstrates the relationship between the marginal product and the quantity of its input. All other inputs are fixed.
Marginal productivity of labour and the demand for labour .?
Graphically illustrate and explain the relationship between marginal productivity of labour and the demand for labour .
How will equilibirium be determined under discriminating monopoly with two markets?
It will be so because it will not achieve a social equilbrium of marginal benefit (demand) = marginal cost (supply). It will instead set a private profit equilibrium where private benefit (marginal revenue) = marginal cost and thus create a deadweight inefficiency equal to the difference in total social surplus between the regions.
What is total utilitymarginal utility d low of diminishing marginal utility and draw the thoeretical mathematical diagramatically relationship between total and marginal utility?
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What is the difference between marginal utility and marginal benefit?
I think this is the answer, based off my textbook, "Microeconomics" by Zupan and Browning. Marginal benefit is the "...maximum amount the consumer would pay for an additional unit" of some good. The height of the demand curve can be interpreted as showing the marginal benefit of some good. Marginal utility is the amount that total utility rises when consumption increases by one unit. For example if total utility for one scoop of ice cream is 10 units and totality utility for the second scoop of ice cream is 15 units, marginal utility measures the difference, 5 units, between the two.
What is the relationship between total average and marginal revenue under monopoly with the help of schedule and diagram?
Total average pertains to annual revenue. While marginal revenue is equivalent to quarterly profits. The relationship between the two is only that one is the dividend of the other.
Why is the demand curve referred to as a marginal benefit curve?
The link between a product and how much it is worth, the amount it is in demand and how much customers are ready to pay for it can be shown in economics on a graph known as a demand curve. This is also known as the marginal benefit curve.
Relationship between Marginal revenue and Demand curve?
marginal revenue always lies behind the demand curve,and when demand increases marginal revenue also increases.demand curve is used to determine price of a commodity.
