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Nature of marginal analysis?
Marginal analysis is used primarily in the technological field to determine what technologies should be created and what would be a fair price for them. It measures data and numbers for technology developers.
Why a producer would continue to increase output even though the marginal cost?
...of production may be rising? Answer: Because of increase in demand.
How might firms BEST use marginal analysis to determine price and output when there are additional costs related to hiring a new worker?
Marginal analysis would allow the company to identify how much more money they would have to make in order to afford another employee. It would help them figure out if hiring a new worker is the best course of action.
Is thinking abouut how much benefit you would receive from buying another pair of boots be a use of marginal analysis explain?
Yes, thinking about the benefits of buying another pair of boots is a use of marginal analysis. This approach involves evaluating the additional utility or satisfaction gained from purchasing one more item compared to its cost. By assessing whether the benefits outweigh the expenses, you can make a more informed decision about whether the purchase is justified. This type of analysis is crucial in understanding the trade-offs involved in consumer choices.
When would the total utility of a good and the marginal utility of a good be the same?
total utility and marginal utility are the same for the first unit of good consumed.
Nature of marginal analysis?
Marginal analysis is used primarily in the technological field to determine what technologies should be created and what would be a fair price for them. It measures data and numbers for technology developers.
Why a producer would continue to increase output even though the marginal cost?
...of production may be rising? Answer: Because of increase in demand.
How might firms BEST use marginal analysis to determine price and output when there are additional costs related to hiring a new worker?
Marginal analysis would allow the company to identify how much more money they would have to make in order to afford another employee. It would help them figure out if hiring a new worker is the best course of action.
What is the difference between product analysis and ladle analysis in steel plates certification?
In steel making the producer takes a sample of the molten material from the Ladle for chemical analysis. For Product Analysis, the sample is taken in it finished state. Either in the slab, rolled or strip form. Steel producers always report Ladle Analysis to the purchaser. The only exception would be if slabs are purchased for reheat and rolling on the hot strip mill. In this case the Mill may conduct a Product Analysis.
Why would a global business conduct a risk analysis?
Whenever changing an existing status or planning on creating a new one, a business should conduct a risk analysis. Without a risk analysis the company has no way of knowing what the worst case scenario could be. A risk analysis highlights the "what can go wrong" and "how will it affect us".
What tests or analysis would you conduct to determine how the two algorithms perform under these cost measures?
Which algorithms? What cost measures?
If the market price for a chair is 24 and the marginal cost for the chair is 7 the marginal revenue from the chair would be .?
17
How do you compute the Marginal Cost of Capital schedule?
Marginal or incremental cost of capital is cost of the additional capital raised in a given period
How would you react to a sales managers announcement that he or she has in place a marketing program to maximize sales?
Since Marginal cost is usually positive, you would expect the outcome of the audience to be excited. The sales should be scaled down until the marginal scales exceed the marginal profit.
Is a potato a primary producer?
A potato is an autotroph, making it's own food. That would mean it is a producer. Primary producer would be redundant.
If the market price for a chair is 24 and the marginal cost for the chair is 7 the marginal revenue from the chair would be . 24 17 31 7?
17
Should resources be concentrated in high potential areas and forget the marginal areas?
No, that would not be very equitable to those people living in marginal areas.
