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Profits will be maximized when marginal revenue?
Profits will be maximized when marginal revenue is equal to marginal costs. This will only happen in cases where there are fixed costs.
Where is profit maximized on a graph?
Profit is maximized on a graph where the marginal cost curve intersects the marginal revenue curve.
A producers profits are maximized when marginal costs are?
equal to marginal revenue
What happens when marginal revenue equals marginal cost?
profit is maximized
Where is total revenue maximized along a linear demand curve?
Unit elastic
Profits will be maximized when marginal revenue?
Profits will be maximized when marginal revenue is equal to marginal costs. This will only happen in cases where there are fixed costs.
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
A producers profits are maximized when marginal costs are?
equal to marginal revenue
A producers profits are maximized when marginal costs are .?
equal to marginal revenue
Where is total revenue maximized along a linear demand curve?
Unit elastic
Profits is calculated by subtracting costs from what?
Profit is calculated by subtracting costs from revenue.
True or false Will profits be maximized when total revenue equals total cost?
yes
True or false Profits will be maximized when total revenue equals total cost?
yes
Subtracting costs from revenue calculates?
profit
When will be marginal revenue maximized?
At the beggining of the MR curve, the first instance of output, from then on, MR falls until it hits 0 at the point where total revenue is max.
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.
