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What else can I help you with?
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
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
When profit is maximized in a perfectly competitive firm?
At the output level at which the slopes of the total revenue and total cost curves are equal, provided the firm is covering its variable cost
What is the relationship between a firm's total revenue profit and total cost?
A firm's total revenue is the total income generated from selling goods or services, while total cost represents the expenses incurred in the production process. Profit is calculated as the difference between total revenue and total cost. Therefore, if total revenue exceeds total cost, the firm earns a profit; if total cost exceeds total revenue, the firm incurs a loss. This relationship highlights the importance of managing costs and maximizing revenue to achieve profitability.
Profit maximization using Total revenue and Total cost approach?
level of output to look at the total revenue and total cost curve directly
What is the meaning of shutdown point?
The shutdown point is the output level at which total revenue is equal to the total variable cost. Here the product price is also equal to its average variable cost.
Total revenue and total cost curves?
total cost= total revenue, it is the same thing in different name.
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
When profit is maximized in a perfectly competitive firm?
At the output level at which the slopes of the total revenue and total cost curves are equal, provided the firm is covering its variable cost
How do you calculate marginal revenue cost by math and graphically and marginal in general?
Profit=Total revenue - Total cost
Profit maximization using Total revenue and Total cost approach?
level of output to look at the total revenue and total cost curve directly
Discuss equilibrium of a firm under monopoly what are the conditions of equilibrium?
when marginal revenue equal to marginal cost,when marginal cost curve cut marginal revenue curve from the below and when price is greter than average total cost
A monopolist will set its production at a level where marginal cost is equal to?
A monopolist will set production at a level where marginal cost is equal to marginal revenue.
How do you get the total revenue?
Total sales - Cost of goods sold = Revenue
When marginal revenue equal to marginal cost?
At this intersection point on a graph, firms will earn maximum profit, even if this point is under average total cost.
What does producer surplus equal?
The total producer surplus is what is left after you subtract the total variable cost from the total revenue. It is the amount of all the producer surplus for each product sold.
What is the formula for Total Revenue and Total Cost?
Total revenue equals the sale price of products multiplued by the total amount of units sold
