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When average cost is at its minimum then marginal cost will be?
mesh
A monopolist will set its production at a level where marginal cost is equal to?
A monopolist will set production at a level where marginal cost is equal to marginal revenue.
How marginal revenue and marginal cost can help set the most profitable output level?
A way to find the best level of output is to find the output level where marginal revenue is equal to marginal cost.
If you have Marginal Cost and Marginal Damages how do you find the optimal level of output?
The optimal level of output is where marginal costs = marginal damages.
Does marginal cost always intersect average cost at minimum average cost?
NTERSECTS
When average cost is at its minimum then marginal cost will be?
mesh
A monopolist will set its production at a level where marginal cost is equal to?
A monopolist will set production at a level where marginal cost is equal to marginal revenue.
How marginal revenue and marginal cost can help set the most profitable output level?
A way to find the best level of output is to find the output level where marginal revenue is equal to marginal cost.
If you have Marginal Cost and Marginal Damages how do you find the optimal level of output?
The optimal level of output is where marginal costs = marginal damages.
Does marginal cost always intersect average cost at minimum average cost?
NTERSECTS
What is the optimal level of pollution?
when marginal benefit is equal to marginal cost To be more specific: When the marginal damage cost of polluting is equal to the marginal abatement cost of polluting (or the marginal benefit of polluting, which is equivalent to the MAC)
The level of profit maximizing output is reached when marginal cost is?
equal to marginal revenue
In the short run if marginal product is at its maximum what happens to average cost?
it is at its minimum
What is a business firm's marginal cost?
Marginal cost, which is the cost of producing one more unit of output, helps determine the level at which profits will be maximized.
What is the level of output every firm strives for?
The level of output every first strives for is when marginal revenue equals marginal cost.
What is happening to average variable costs when they equal marginal costs?
When average variable costs equal to the average marginal cost, the average variable cost will be at the minimum point. i.e. lowest cost
What does profit maximizing quantity of output mean?
Its the level of production where marginal cost is equal to marginal revenue.
