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MC = f'(x) = df/dx
Marginal cost is equivalent to the derivative of the cost function.
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∙ 12y ago
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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.
Marginal cost when buying a house?
marginal cost influences the buyer of the house. If the marginal benefit surpasses or even equal with the marginal cost, the buyer normally decides to buy the house.
The level of profit maximizing output is reached when marginal cost is?
equal to marginal revenue
When is economic surplus maximized?
when the marginal benefit of consumption is equal to the marginal cost of production.
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest 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.
What is the optimal level of pollution?
when marginal benefit is equal to marginal cost To be more specific: When the marginal damage cost of polluting is equal to the marginal abatement cost of polluting (or the marginal benefit of polluting, which is equivalent to the MAC)
Marginal cost when buying a house?
marginal cost influences the buyer of the house. If the marginal benefit surpasses or even equal with the marginal cost, the buyer normally decides to buy the house.
The level of profit maximizing output is reached when marginal cost is?
equal to marginal revenue
When is economic surplus maximized?
when the marginal benefit of consumption is equal to the marginal cost of production.
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
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
How marginal revenue and marginal cost can help set the most profitable output level?
A way to find the best level of output is to find the output level where marginal revenue is equal to marginal cost.
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
The equality of marginal revenue and marginal cost is essential for profit maximization in all market structures because if?
Marginal revenue and marginal cost are equal, any other output level will result in reduced profit.
Does supply equal marginal cost?
Not that I know of. Average cost does - in the form of a labour market
Is the area under the marginal cost curve equal to the total variable cost?
yes
