0
What else can I help you with?
When will be marginal revenue maximized?
At the beggining of the MR curve, the first instance of output, from then on, MR falls until it hits 0 at the point where total revenue is max.
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.
Profits will be maximized when marginal revenue?
Profits will be maximized when marginal revenue is equal to marginal costs. This will only happen in cases where there are fixed costs.
Where is profit maximized on a graph?
Profit is maximized on a graph where the marginal cost curve intersects the marginal revenue curve.
What is marginal output?
The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.
When total product is maximized marginal product is?
mp = 0
When will be marginal revenue maximized?
At the beggining of the MR curve, the first instance of output, from then on, MR falls until it hits 0 at the point where total revenue is max.
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.
Profits will be maximized when marginal revenue?
Profits will be maximized when marginal revenue is equal to marginal costs. This will only happen in cases where there are fixed costs.
Where is profit maximized on a graph?
Profit is maximized on a graph where the marginal cost curve intersects the marginal revenue curve.
What is marginal output?
The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.
What happens when marginal revenue equals marginal cost?
profit is maximized
A producers profits are maximized when marginal costs are?
equal to marginal revenue
A producers profits are maximized when marginal costs are .?
equal to marginal revenue
When is economic surplus maximized?
when the marginal benefit of consumption is equal to the marginal cost of production.
When total physical product is maximized?
Total physical product (TPP) is maximized when the marginal product of labor (MPL) equals zero, meaning that adding more units of labor does not increase output. At this point, any additional input results in diminishing returns, and further increases in labor may even decrease total output. Therefore, maximizing TPP indicates that the optimal utilization of resources has been reached, balancing efficiency without overextending inputs.
What is marginal revenue?
Marginal revenue is the change in total revenue over the change in output or productivity.
