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What happens when marginal cost exceeds average total cost?
MC is the cost of producing one extra good, so if the cost of producing that one extra good is above the average, then the ATC increases.
What is the definition of marginal output of labor?
The change in output that results from employing an added unit of labor (hiring 1 extra person).
What is the additional or extra benefit associated with an action?
Marginal Benefit
What is extra output generated by one more unit of variable input?
Marginal Product
What is marginal opportunity cost?
first and foremost,to ecomists,'marginal' means "extra","additional",or'a change in'.so marginal opportunity cost means additional or extra amount of other goods that must be foregone or sacrifised to produce an extra unit of another product
What is meant by marginal cost?
Marginal product is the result of an additional output of production. An example is adding an hour to an employeeâ??s work schedule to produce 100 more cookies. Marginal cost is the cost associated with producing an additional output. An example is paying an employee the overtime rate per hour for producing 100 more cookies.
What is deciding whether to do or use one additional unit of some resource?
The marginal analysis is the concept that considers the costs and benefits associated with using or producing one additional unit of a resource. By comparing the additional cost of producing or using that unit with the additional benefit gained from it, decision-makers can determine whether it is worthwhile to proceed with that action. If the additional benefit exceeds the additional cost, it is typically seen as favorable to utilize that extra unit of resource.
An additional layer around plant cells that provides extra support is called a?
The cell wall. :)
What is a extra copie of a document or a program?
It is an output!
What is an extra of a document or program?
its a backup,never an output
What is extra information in a sentence called?
Extra information in a sentence is called a nonessential or nonrestrictive clause or phrase. This additional information provides further details about a noun or verb but is not necessary for the sentence's meaning. It is typically set off by commas.
What is the of plus?
additional, positive, extra
What is an extra copy of a document or program?
its a backup,never an output
What is the synonym of plus?
additional, positive, extra
Define convenience goods?
those goods which we purchase without gathering additional information or putting extra effort are called convenience goods.
How did producing extra food affect people's jobs?
it got them fired
What happens when marginal cost exceeds average total cost?
MC is the cost of producing one extra good, so if the cost of producing that one extra good is above the average, then the ATC increases.
