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ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
Its the level of production where marginal cost is equal to marginal revenue.
Similar-minimally acceptable.
when we start eating, the level of hunger is high. but eventually our capacity to eat falls, thus the marginal utility at the all - you- can eat restaurant will fall.
A company will choose marginal cost pricing, setting the price of something at or just above the variable cost of production, when they have unused remaining production capacity, or when they are not able to sell the item at a higher price.
what do you mean by marginal lands?
What do you mean by Marginal probailities under statistical dependence
ncreasing marginal returns mean that marginal product is greater for each subsequent unit of a variable input than it was for the previous unit. Decreasing marginal returns, as such, mean that marginal product is less for each subsequent unit of a variable input than it was for the previous unit.
Its the level of production where marginal cost is equal to marginal revenue.
Similar-minimally acceptable.
Areas with low annual rainfall
In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit
when we start eating, the level of hunger is high. but eventually our capacity to eat falls, thus the marginal utility at the all - you- can eat restaurant will fall.
A company will choose marginal cost pricing, setting the price of something at or just above the variable cost of production, when they have unused remaining production capacity, or when they are not able to sell the item at a higher price.
of, relating to, or situated at a margin or border
The marginal benefit will be the value added by that one hour of work. Say the worker is an economist and produces $50 worth of service work in that hour for the firm. The marginal benefit would be $50. If the worker is in production and spins $10 worth of thread into fabric the firm can sell for $100, then the value added (and the marginal benefit) is $90.
It means that the marginal output will continue to diminish for the business as production continues. The business will have to introduce new technology to prevent this effect.