Economists depict a u-shaped marginal cost curve on a graph that compares it to the cost curve for average cost. The y-axis is average or marginal cost. The x-axis is units of output. These cost curves intersect on the graph. Amarginal cost vs average cost graphmay show separate curves...
Marginal revenue: The additional revenue a company earns from selling one additional unit of a product or service. In the graph below, marginal revenue is shown by the lower pink line. The quantity where marginal revenue and marginal cost intersect is the optimal quantity to sell. Marginal cos...
Graph the marginal cost, average variable cost, average total cost, and average fixed cost of a firm. Cost Cost to a firm is the money spent to produce a product or provide a service. Costs are divided into fixed and variable components depending on whether ...
What is Marginal Cost? The extra cost that arises from the addition of an extra unit of a service or a product is known as a marginal cost (MC). The extra cost can be linked to the production of a good or a service. A Marginal Cost is an Extra Cost incurred Example It takes a...
b. Draw a graph that shows marginal cost, average variable. cost, and average total cost, with cost on the vertical axis and quantity on the horizontal axis. 点击查看答案 第5题 为了鼓励一个行业生产社会最优的产量,政府应该对产出征收等于产出边际成本的单位税,这种观点是 否正确?请解释。 To en...
The graph shows the marginal cost curve, average total cost curve, demand curve, and marginal revenue curve of a firm in monopolistic competition in long-run equilibrium. Draw a point at the firm's profit-maximizing output and price. Label it 1. Draw a p...
Marginal Cost Curve As the graph below demonstrates, in order tomaximize its profits, a business will choose to raise production levels until the marginal cost (marked as MC) is equal to themarginal revenue(marked as MR). Additionally, asupply curveis that section of the MC curve that lies...
for the change in quantity, compare the quantity of goods or services produced in two periods. subtract the initial quantity from the final quantity to find the difference. the marginal cost curve using the marginal cost curve, you can plot on a graph the point at which a new ...
The graph shows the marginal benefit from health insurance and the willingness and ability to pay for it. The marginal cost of insurance is a constant $6,000 per family per year. Marginal social benefit from insurance exceeds the willingness and ab...
Fig. 7. Marginal production (kg) and cost (BFr.) as a function of the investment (in days) as derived from Table 1 [5]. Let us look now for examples where the marginal laws apply in analytical chemistry. A very simple example of the marginal laws can be found in the precision with...