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6 If the average total cost curve is falling what is necessarily true of the marginal cost curve If the average total cost curve is rising what is necessarily true of the marginal cost curve?
When average total cost curve is falling it is necessarily above the marginal cost curve. If the average total cost curve is rising, it is necessarily below the marginal cost curve.
How does a monopolistically competitive firm determine its profit-maximizing price?
price = marginal revenue. marginal revenue > average revenue. price > marginal cost. total revenue > marginal co
If you have total cost and total benefit how do you get marginal cost and marginal benefit?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
Find the marginal and the average cost function for the following total cost function?
Find (i) the marginal and (2) the average cost functions for the following total cost function. Calculate them at Q = 4 and Q = 6.
What is happening to average total costs when they equal marginal cost?
That is were u now got your total cost
Relationship between total product marginal product and average product?
Just remember that marginal always leads average. Whatever the marginal product does the average will always do the same soon after.
Relationship between Tota Product Marginal Product and Average Product?
Average Product = (Total Product) / (Labor) Marginal Product(2) = (Total Product)(2) - (Total Product)(1)
What is the relationship between total average and marginal revenue under monopoly with the help of schedule and diagram?
Total average pertains to annual revenue. While marginal revenue is equivalent to quarterly profits. The relationship between the two is only that one is the dividend of the other.
Relationship between total and marginal product?
Total product is the sum of all marginal products.
Explain the relationship between total utility and marginal utility?
Marginal Utility is the derivative of Total Utility
What is the relationship between marginal cost and average cost curves?
Margianal cost curve crosses the average total cost curve at the lowest point on the average total cost curve to be socially and ecomonical efficient.
What is total utilitymarginal utility d low of diminishing marginal utility and draw the thoeretical mathematical diagramatically relationship between total and marginal utility?
23w
Relationship of total and marginal utility?
Relationship of total and marginal utility- 1.when total utility increases,marginal also increases. 2.when total utility is at it`s maximum point,marginal becmes zero. 3.when total utility starts declning,marginal becomes negative.
Explain the relationship between average revenue and marginal revenue?
Average Revenue: Total revenue divided by the number of units sold. Marginal Revenue: Is the extra revenue that an additional unit of product will bring. It is the additional income from selling one more unit of a good; sometimes equal to price. It can also be described as the change in total revenue ÷ the change in the number of units sold. Relationship: They both are the revenue brought in by, in this case, units sold. They are both used to calculate the total revenue just that marginal is any exrta revenue that the average revenue has left over.
6 If the average total cost curve is falling what is necessarily true of the marginal cost curve If the average total cost curve is rising what is necessarily true of the marginal cost curve?
When average total cost curve is falling it is necessarily above the marginal cost curve. If the average total cost curve is rising, it is necessarily below the marginal cost curve.
What is the relationship between marginal revenue and total revenue?
Marginal revenue is the change in total revenue with respect to the variable that's changing (usually quantity.)Using calculus,MR = d(TR)/dQ, where Q is quantity.
When marginal cost is less than the average total cost the average total cost is falling why?
as a marginal cost is the cost of the next product produced, if this is less than average cost, when you continue to produce more products the lower marginal cost will have an affect on the average and cause it to fall.
