WebCost, nevence, and profit are in dollars and x ia the number of unita Suppose that the marginal revenue for a product is MR = 1 moo and the marginal cost is MC = 90 x + 4 , with a fixed cost of 3900 . (a) Find the profa or loss fram the groduction and sale of 5 units. WebTable 4.3 shows marginal cost, MC, and marginal revenue, MR. (a) Use the marginal cost and marginal revenue at a production of q = 5000 to determine whether production should be increased or decreased from 5000.(b) Estimate the production level that maximizes profit. Table 4.3 q MR MC 5000 6000 60 58 48 52 7000 8000 9000 56 55 54
[Solved] Table 4.3 shows marginal cost, MC, and ma SolutionInn
Marginal cost is calculated as the total expenses required to manufacture one additional good. Therefore, it can be measured by changes to what expenses are incurred for any given additional unit. Marginal Cost = Change in Total Expenses / Change in Quantity of Units Produced The change in total … See more In economics, the marginal cost is the change in total production cost that comes from making or producing one additional unit. To calculate marginal cost, divide the change in … See more Marginal cost is an economics and managerial accountingconcept most often used among manufacturers as a means of isolating an optimum production level. Manufacturers often … See more Production costs consist of both fixed costs and variable costs. Fixed costs do not change with an increase or decrease in production levels, so the same value can be spread out over … See more When a company knows both its marginal cost and marginal revenue for various product lines, it can concentrate resources towards items where the difference is the greatest. Instead of … See more WebThis both objectively and subjectively true. Utility/ productivity will not remain constant eternally, a producer can only try to produce at a optimum level, in which he won't lose … link ethiopia
ECON 103, 2008-2 ANSWERS TO HOME WORK …
WebJan 29, 1999 · The productivity of the worker is affected by the job (i.e., by the amount of capital available). Long-run demand: the firm must adjust all inputs so that the marginal cost of producing an additional unit of output is the same across all inputs. Or W / MP L = C / … WebJul 21, 2024 · Marginal Product (MP) This is the output produced by an extra worker. The first worker adds two goods. If a worker costs £20. The MC of those two units is 20/2 = 10. The 3 rd worker adds six goods. The MC of those six units are 20/6 = 3.3 The 5 th worker adds an extra ten goods. The MC of these 10 is just 2. WebExpert Answer. 1st step. All steps. Final answer. Step 1/2. The law of diminishing marginal productivity is a fundamental concept in economics that state... View the full answer. Step 2/2. link estaminet urbain