In general, a firm hires the quantity of a factor of production up to the point at which marginal factor cost equals marginal revenue product. "If the marginal cost curve slopes upward, then we have to revise the marginal revenue equals marginal cos...
Marginal revenue product equals marginal physical product times marginal revenue per unit of additional output sold. 随便看 compensating variation compensating wage differential compensation for externalities compensation principle competition Competition Commission competition policy competitive devaluation competitive ...
Marginal revenue product equals marginal revenue times the price of output. A) True B) False When marginal revenue is greater than marginal cost, the firm should produce more units. True or False? True or false? For a monopolist, the chang...
Marginal revenue is the increase in revenue generated by the sale of one additional unit of a product or service. Though it can remain constant up to a certain point of output, marginal revenue follows thelaw of diminishing returns. Eventually, it will slow as the level of output decreases. ...
additional units ofOUTPUT. The marginal revenue product of a factor is given by the factor'sMARGINAL PHYSICAL PRODUCT(MPP) multiplied by theMARGINAL REVENUEof the product. (In the case of products sold in perfectly competitive markets, marginal revenue equals price so the MRP is equal to MPPx...
1)marginal revenue边际收益 1.Based on the discussion about the implication of networks economy,the standpoint different from that networks economy having the law of increasing marginal revenue was put forward.在讨论网络经济概念的基础上 ,提出了对网络经济边际收益递增观点的不同看法 ,指出了网络经济认识上...
sense to keep on producing, and the producer will decrease output. So the point where marginal cost and marginal revenue equals is the optimum or maximum production level. Production and sale beyond this level will mean a loss as the marginal cost will be more than the marginal revenue. ...
A company wants to aim for marginal cost equaling marginal revenue for maximum profitability. What happens when marginal revenue is less than marginal cost? When marginal cost is more than marginal revenue, the result is overproduction. A company where marginal cost equals marginal revenue maximizes...
The ideal production level occurs when marginal cost equals marginal revenue (MC=MR). These two concepts, however, are different. Let’s look at the definitions: Marginal cost: The additional cost a business incurs by producing one more unit of a product or service. Marginal revenue: The ...
If a firm is experiencing diminishing marginal returns, its marginal product is declining. True False True or false? The multiplier value is the reciprocal of the marginal propensity to consume. Marginal revenue product equals marginal revenue times the price of output. A) True B) False ...