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What should a monopoly do if marginal revenue exceeds marginal cost?
increase output
If marginal utility is positive will you have total utility increase with additional consumption?
If marginal utility is positive will you have total utility increase with additional consumption?
Why do you care about marginal propensity to consume?
we do care about the marginal propensity to consume because it shows the ratio of an increase in consumption due to increase in income it does not matter what the income of the consumer,either high or low.
How does an increase in wages affect a firms marginal cost curve?
Bbg
Why does marginal cost tend to increase with output?
It is because of law of dimnishing marginal utility,when the ouput inreases,it also starts increasng as marginal product starts declining after the optimum utilisation of resources.
What should a monopoly do if marginal revenue exceeds marginal cost?
increase output
When a firm's marginal revenues are higher than its marginal cost?
Marginal cost is
If marginal utility is positive will you have total utility increase with additional consumption?
If marginal utility is positive will you have total utility increase with additional consumption?
How do you determine the optimal level of advertising?
the optimal level of advertising expenditure for the firm is determined where the marginal revenue increase in costs of advertising are equal to the marginal increase in revenue
Why do you care about marginal propensity to consume?
we do care about the marginal propensity to consume because it shows the ratio of an increase in consumption due to increase in income it does not matter what the income of the consumer,either high or low.
If marginal revenue is greater than marginal cost the firm should?
If MR is greater than MC, the firm should increase their production. The ideal amount of production is determined by allowing the marginal cost to equal the marginal revenue.
How does an increase in wages affect a firms marginal cost curve?
Bbg
Why does marginal cost tend to increase with output?
It is because of law of dimnishing marginal utility,when the ouput inreases,it also starts increasng as marginal product starts declining after the optimum utilisation of resources.
A perfectly competative firms marginal cost exceeds its marginal revenue at its current output To increase its profit the firm will?
To increase profit the firm will decrease output to a point where MC=MR. This is the Profit Maximisation point
How do you increase gross profit when sales increase but gross profit does not?
Your mariginal revenue must equal your marginal cost.
What would cause marginal costs to increase?
By definition marginal cost is the change in total costs for each additional item produced. Marginal costs will decrease when changes in inputs result in costs increasing at a decreasing rate. An example might be gains in productivity when hiring an additional unit of labor results in a more than proportional increase in output. Marginal costs would increase when an additional unit of an input results in a less than proportional increase in output (assuming input prices are constant).
What is the influence of 1 percent increase in the Repo rate?
Marginal Standing Facility
