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Would you advise the management to sell a product even below the marginal costs?
Wiki User
∙ 12y ago
Yes; provided that the only other reasonable option were to be keeping an unprofitable item: holding out for marginal cost, resulting in ZERO profit.
Wiki User
∙ 12y ago
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Why does the marginal product of labor eventually diminish?
Marginal product eventually diminishes because the cost of doing business increases with production. The company would need to make a change in the organization so that they can shift their production possibilities.
Explain why marginal physical product would diminish as More professors are hired in the economics department?
zabi
If fixed cost do not change then the marginal cost?
Contrast to what we would normally think, changes in fixed costs do not affect marginal cost. For example, if a product costs $10 to produce, and the fixed cost goes up to $25, then marginal cost stays the same.
Explain the relationship between total utility and marginal utility?
Total Utility can mean the total amount of satisfaction gained from the purchase or consumption of a product. Marginal Utility is the amount of satisfaction gained from purchasing or consuming more of the same product. For Example: If you purchased two slices of Pizza, Your total utility would be the satisfaction you receive from consuming both slices. Your marginal utility would be the satisfaction you gained consuming an additional slice (i.e. The difference between consuming two slices versus one slice) Typically your marginal utility decreases as your consumption increases. For Example: If you have eight pizzas, one extra slice is not likely to bring you as much satisfaction as a second slice would if you only had one slice of pizza (as opposed to eight pizzas).
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.
Why does the marginal product of labor eventually diminish?
Marginal product eventually diminishes because the cost of doing business increases with production. The company would need to make a change in the organization so that they can shift their production possibilities.
Explain why marginal physical product would diminish as More professors are hired in the economics department?
zabi
Would the product 'wicked x' have negative affects for a pregnancy?
I would seriously advise against it. Consult your doctor, but I would not advise smoking anything while pregnant.
If fixed cost do not change then the marginal cost?
Contrast to what we would normally think, changes in fixed costs do not affect marginal cost. For example, if a product costs $10 to produce, and the fixed cost goes up to $25, then marginal cost stays the same.
How would you organize your project management portfolio?
Organizing your project management portfolio can be complicated. The best advise is to purchase a book or software to help with the task. There are several books available on eBay and Amazon.
How could a company improve product lifecycle management?
"One way to improve the management of a product's lifecycle would be to study the lifecycle's of previous, similar products, whether by that company or a competitor. If problems can be found that shortened the lifecycle of the previous product, changes can be made to the new product to overcome these problems."
How do you write a complaint letter about an employee?
When you write your complaint letter you should advise management of the problem. You can also include how you would want to problem resolved.
Where can a person go to get tips on product information management?
If one wants to get tips on Product Information Management one can go to a money finance advice site. Product information Management or PIMS means referring to the processes and technology to manage products. One would keep track of stock merchandise and target market to sell to.
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 .?
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Explain the relationship between total utility and marginal utility?
Total Utility can mean the total amount of satisfaction gained from the purchase or consumption of a product. Marginal Utility is the amount of satisfaction gained from purchasing or consuming more of the same product. For Example: If you purchased two slices of Pizza, Your total utility would be the satisfaction you receive from consuming both slices. Your marginal utility would be the satisfaction you gained consuming an additional slice (i.e. The difference between consuming two slices versus one slice) Typically your marginal utility decreases as your consumption increases. For Example: If you have eight pizzas, one extra slice is not likely to bring you as much satisfaction as a second slice would if you only had one slice of pizza (as opposed to eight pizzas).
What is the difference between marginal benefits and marginal costs?
The term marginal cost refers to the oppurtunity cost associated with producing one more additional unit of a good. Opportunity cost is a critical concept to economics - it refers to the value of the highest value alternative opportunity. For example, in examining the marginal cost of producing one more bushel of wheat, that number could be expressed as the dollar value of corn or other goods that could be produced in lieu of more wheat. Marginal benefit refers to what people are willing to give up in order to obtain one more unit of a good, while marginal cost refers to the value of what is given up in order to produce that additional unit. Additional units of a good should be produced as long as marginal benefit exceeds marginal cost. It would be inefficient to produce goods when the marginal benefit is less than the marginal cost. Therefore an efficient level of product is achieved when marginal benefit is equal to marginal cost.
Can you put makeup on layaway at Kmart?
We'll I guess you can try some products but I personally would advise you not to and don't open the plastic on the product too.
