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Where is profit maximized on a graph?
Profit is maximized on a graph where the marginal cost curve intersects the marginal revenue curve.
What happens when marginal revenue equals marginal cost?
profit is maximized
Why is profit maximized when marginal revenue equals marginal cost?
Profit is maximized when marginal revenue equals marginal cost because at that point, the additional revenue gained from selling one more unit is equal to the additional cost of producing that unit. This balance ensures that the company is making the most profit possible, as any further increase in production would result in higher costs than revenue gained.
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 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
Where is profit maximized on a graph?
Profit is maximized on a graph where the marginal cost curve intersects the marginal revenue curve.
What happens when marginal revenue equals marginal cost?
profit is maximized
What is arsene wengers hobby?
To minimize cost in order to maximized profit.
Why is profit maximized when marginal revenue equals marginal cost?
Profit is maximized when marginal revenue equals marginal cost because at that point, the additional revenue gained from selling one more unit is equal to the additional cost of producing that unit. This balance ensures that the company is making the most profit possible, as any further increase in production would result in higher costs than revenue gained.
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 are proceeds from disposal of assets?
Proceeds from disposal of assets is equal to = Total cost of disposed assets- Accumulated depreciation related to assets disposed+ Profit on sale of fixed assets
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
Is gross profit a current asset?
No, gross profit is not a current asset. Gross profit refers to the difference between revenue and the cost of goods sold, reflecting the profitability of a company's core operations. Current assets, on the other hand, include cash, accounts receivable, inventory, and other assets expected to be converted into cash or used within one year. Gross profit is part of the income statement, while current assets are reported on the balance sheet.
What is tr-tc approach of profit maximization?
The TR-TC approach to profit maximization involves analyzing total revenue (TR) and total cost (TC) to determine the most profitable level of output. Profit is maximized when the difference between total revenue and total cost is the largest, which occurs where marginal revenue equals marginal cost (MR = MC). This approach helps firms identify the optimal production level that maximizes profitability by balancing revenue generation with cost management.
How do you get a retail price if you have the gross profit percent and cost?
Add the profit margin (cost*profit%) to the cost. Add the profit margin (cost*profit%) to the cost. Add the profit margin (cost*profit%) to the cost. Add the profit margin (cost*profit%) to the cost.
Why should accumulated depreciation be treated as expense?
It is treated as expense because it uses to allocate the related assets cost portion to profit and loss account due to usage of fixed assets for revenue generation in fiscal year.
Sell price is 2602.58 cost price is 2090.42 what is the profit?
The basic formulas for profit are represented as follows: Profit = Price - Cost % Profit = Profit / Cost So, if an item sold for 2,602.58 and cost 2,090.42, the profit (absolute) is : Profit = 2,602.58 - 2,090.42 = 512.16 The % profit (relative to the cost) is: % Profit = 512.16 / 2,090.42 = 24.5%
