Tammy sells woolen hats in a perfectly competitive market. The marginal cost of producing 1 hat is 24. The marginal cost of producing a second hat is 26 and the marginal cost of producing a third hat is 28. The market price of a hat is 26. To maximize profit, Tammy produces ___ per...
This $25.75 is the marginal cost of the ninth unit.Answer (A) is incorrect because This amount is the variable cost of the eighth unit.Answer (B) is incorrect because This amount is the variable cost of the ninth unit.Answer (D) is incorrect because This amount is the average cost per...
Themarginal cost of productionfor each additional computer processor generally decreases when the fixed costs are covered. Additional units represent increasing profit margins at lower marginal costs. This provides companies with the ability to drop prices if necessary, improving the competitiveness o...
百度试题 结果1 题目When the price of a product exceeds the marginal cost of producing it, producers have 相关知识点: 试题来源: 解析 producer surplus.反馈 收藏
After reaching the minimum point, the marginal cost of production increases with an increase in production further. Answer and Explanation: The profit of any firm can be maximized if the following two conditions are met; 1. The marginal revenue eq...
结果1 题目The marginal production cost per unit of an item usually consists of the following. A. Direct materials B. Production overheads C. Direct labor D. Variable production overheads 相关知识点: 试题来源: 解析 A,C,D 反馈 收藏
Profitisthefirm’stotalrevenueminusitstotalcost.Profit=Totalrevenue-Totalcost Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,Inc.CostsasOpportunityCosts Afirm’scostofproductionincludesalltheopportunitycostsofmakingitsoutputofgoodsandservices.Harcourt,Inc.itemsandderiveditemscopyright©2001byHarcourt,...
Question: The marginal cost of production is found to beC'(x)=1380-38x+3x2where x is the number of units produced. The fixed cost of production is $6500. The manufacturer sets the price per unit at $3100. Find the cost function...
The marginal cost of a product is given by MC = 14000√7x+4 and the fixed cost is 18000. Find the total cost and the average cost of producing 3 units of output. View Solution Knowledge Check Question 1 - Select One The cost of production of a certain instrument is directly proportion...
Explain why the marginal cost of production must increase if the marginal product of a variable resource is decreasing. What is marginal product, and what does it mean if it is diminishing? If marginal physical product is continually declining, what does marginal cost look...