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How is marginal revenue calculated and what factors influence its determination in a business setting?
Marginal revenue is calculated by subtracting the total revenue from the previous level of output from the total revenue from the current level of output. Factors that influence its determination in a business setting include pricing strategies, market demand, competition, and production costs.
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 can company increase revenue?
Reduce cost production
Marginal revenue equals?
marginal cost of production
How does elasticity of demand influence tax revenue?
Elasticity of demand influenced tax revenues
How is marginal revenue calculated and what factors influence its determination in a business setting?
Marginal revenue is calculated by subtracting the total revenue from the previous level of output from the total revenue from the current level of output. Factors that influence its determination in a business setting include pricing strategies, market demand, competition, and production costs.
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 can company increase revenue?
Reduce cost production
Marginal revenue equals?
marginal cost of production
Is maximum revenue the motivating driving force behind production and supple?
Maximum revenue is not always the sole motivating driving force behind production and supply. Other factors such as cost minimization, profit maximization, market share, customer satisfaction, and social responsibility can also influence production and supply decisions made by businesses. It is important for companies to consider a balance of these factors to ensure long-term sustainability and success.
What is the influence of breeding milk in production?
There's no such thing as "breeding milk" so it has no influence on or in production.
When a firms revenue from sales exceeds its cost of production it will earn?
Profit
Is a company earnings are the same as its revenue?
A company's earnings are equal to revenue less costs of production over a given period of time.
What is totoal revenue?
Total revenue is the total amount of money a company earns from its sales of goods or services before any expenses are deducted. It is calculated by multiplying the price per unit by the number of units sold. Total revenue is a key metric used to assess a company's financial performance and can influence decisions regarding pricing, production, and marketing strategies. Understanding total revenue helps businesses evaluate their market position and growth potential.
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.
Government spending and revenue collection used to influence the economy is referred to as what?
Fiscal Policy
How does elasticity of demand influence tax revenue?
Elasticity of demand influenced tax revenues
