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How might firms BEST use marginal analysis to determine price and output when there are additional costs related to hiring a new worker?
Wiki User
∙ 9y ago
Marginal analysis would allow the company to identify how much more money they would have to make in order to afford another employee. It would help them figure out if hiring a new worker is the best course of action.
Wiki User
∙ 9y ago
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What importance are average cost and marginal cost in economic analysis?
Average cost: determines the accounting profit maximisation and minimal point where the firm can remain profitable. Marginal cost: determines economic profit maximisation and minimal 'shut-down' point where the firm should still operate, even if at an accounting loss. Note: Average cost (AC) and marginal cost (MC) are related. The rate of change of AC is always positive when MC is positive.
What is the advantage of benefit cost analysis?
Advantages and disadvantages of benefit cost ratio
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.
If marginal revenue is less than average revenue will the demand curve be downward sloping?
This question reflects a fundamental misunderstanding of supply and demand. Marginal revenue and average revenue are related to a firm's cost function, and are thus connected to SUPPLY. They have nothing to do with a demand curve in classical economics, which is the marginal benefit to the CONSUMER of being in the market.
How is a perfectly competitive firms marginal cost curve related to its supply curve?
a perfectly competitive firms supply curve will be the portion of the marginal cost curve which lies above the average variable cost curve (AVC)..this will be due to the firms unwillingness to supply below the price in which they could cover their variable costs
What are vanishing marginal and how is this related to hyper pluralism?
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What is the advantage of benefits-costs analysis?
It helps people determine which projects are worth doing in order to avoid disaster-related damages later. A+
What is advantage of benefit cost analysis?
It helps people determine which projects are worth doing in order to avoid disaster-related damages later. A+
What importance are average cost and marginal cost in economic analysis?
Average cost: determines the accounting profit maximisation and minimal point where the firm can remain profitable. Marginal cost: determines economic profit maximisation and minimal 'shut-down' point where the firm should still operate, even if at an accounting loss. Note: Average cost (AC) and marginal cost (MC) are related. The rate of change of AC is always positive when MC is positive.
How does cladistic analysis determine the order in which a set of related species evolved?
Cladistics is a method of classifying organisms by common ancestry, based on the branching of the evolutionary family tree etc
Does cladistic analysis determine the order in which a set of related species evolved?
Cladistics is a method of classifying organisms by common ancestry, based on the branching of the evolutionary family tree etc
What is the advantage of benefit cost analysis?
Advantages and disadvantages of benefit cost ratio
What is benefit analysis?
Risk-benefit analysis is the comparison of the risk of a situation to its related benefits
What type of molecular comparison would help to determine whether fungi are more closely related to plants or to animals?
A phylogenetic analysis of DNA sequences from members of all three kingdoms (Plus an outgroup) would reveal who fungi are most closely related to.
What is Intracompany?
If your talking about intracompany analysis then it is the analysis of different aspects in one company. This is related to Accounting.
What is risk-benefit analysis?
Risk-benefit analysis is the comparison of the risk of a situation to its related benefits
What is the critical analysis of this theory?
critical analysis is a against thought of writer.might have related to society and humanity..
