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How can one determine the profit maximizing output from a table?
To determine the profit-maximizing output from a table, look for the quantity where the marginal revenue equals the marginal cost. This is the point where the firm maximizes its profit.
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
When a perfectly competitive firm is at its profit maximizing level of output you can say that it is?
is producing where price exceeds marginal costs
What is the profit maximizing point on the graph for this particular business model?
The profit maximizing point on the graph for this business model is where the marginal revenue equals the marginal cost.
Where will A profit maximizing firm produce?
Where the marginal benefits equal marginal costs.
How can one determine the profit maximizing output from a table?
To determine the profit-maximizing output from a table, look for the quantity where the marginal revenue equals the marginal cost. This is the point where the firm maximizes its profit.
How do you find a monopolist's profit maximising...?
The monopolist's profit maximizing level of output is found by equating its marginal revenue with its marginal cost, which is the same profit maximizing condition that a perfectly competitive firm uses to determine its equilibrium level of output. Indeed, the condition that marginal revenue equal marginal cost is used to determine the profit maximizing level of output of every firm, regardless of the market structure in which the firm is operating.
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
When a perfectly competitive firm is at its profit maximizing level of output you can say that it is?
is producing where price exceeds marginal costs
What is the profit maximizing point on the graph for this particular business model?
The profit maximizing point on the graph for this business model is where the marginal revenue equals the marginal cost.
Where will A profit maximizing firm produce?
Where the marginal benefits equal marginal costs.
A company is maximizing profit when marginal revenue?
A company maximizes profits when marginal revenue equals marginal costs.
What is marginal profit?
In economics, marginal profit is the difference between the marginal revenue and the marginal cost of producing an additional unit of output.
When is the profit-maximizing quantity of output reached?
To maximise profits, the quantity of output reached (supply) must be lesser than the demand, increasing the value and consequently the price of a certain good or service.
How do you achieve the profit maximizing price?
Let the demand facing a firm for its product be expressed by the following functions Q=25-0.5P Where Q=quantity and P=price, and cost function as C=25-2Q+4Q2 Compute a) Profit maximizing output, b) Justify profit maximizing output
The price charged by a profit-maximizing monopolist occurs at?
the point where the marginal cost curve intersects the marginal revenue curve
Explain the relationship between marginal cost marginal revenue and profit?
Given that P=R-C where P is profit, R revenue and C cost, it follows that marginal profit dP/dQ = dR/dQ-dC/dQ where P,R and C are all functions of the output Q. Maximizing profit means setting dP/dQ = 0. Then dR/dQ = dC/dq where dR/dQ and dC/dq are marginal revenue and marginal cost respectively.
