Why is profit maximization given by marginal cost equals marginal revenue in a monopolistic market? a. Why, in the case of a monopolist, is marginal revenue at any output less than output price? b. Can the profi
To maximize profit, a monopolist will produce until marginal revenue from the last unit produced is equal to the marginal cost of producing the last unit.Answer and Explanation: The marginal cost is $3. To maximize profit, then monopolist wil...
Marginal product of labor(MPL), also known asmarginal return, measures the productivity of each additional unit of input and is calculated by observing the difference in total product when adding another unit of input (assuming other resource quantities are held constant). Two important considerations...
We consider a profit-maximizing, monopolistically competitive manufacturing firm that combines labor (L) and capital (K) to add value (Y) to raw materials. Demand slopes down in value added and the revenue function,R(Y), is concave. The production function is homogenous of degree 1. Firms ...
Recognizing monopolistic trends might lead to investment opportunities. If you get in on the ground floor of a company preparing to dominate a specific market for many years to come, you may have found a fantastic investment at a low price. Just be cautious; issues such as lawsuits and regula...
97、边际替代率(Marginal rate of substitution) 边际替代率是指如果消费者在收到额外一单位商品 X 之后要保持满足水平不变而必须放弃 的商品 Y 的数量。 98、边际收益(Marginal revenue) 边际收益是指出售额外一单位产品所带来的总收益的增加。 99、边际收益产品(Marginal revenue product) ...
So that profit is going to be this line right here between the marginal revenue curve or excuse me the price, right, and the average total cost and we multiply it by the quantity, okay? So the quantity over here, we're going to get that this whole region right here is our profit...
15. Markets for the Factors of Production1h 33m 18. Consumer Choice and Behavioral Economics1h 16m 13. Monopolistic Competition Topic summary First, find the Quantity where MR=MC.At that quantity, find Price and ATC.Profit = (Price - ATC) * Quantity ...
The marginal cost of a monopolist is constant and is R10. The marginal revenue curve is given as follows: MR = 100 - 2Q The profit-maximizing price is. Monopoly: A monopoly is the market structure in which only one prod...
When the marginal benefit is greater than marginal cost then the firm should decrease the price such that the marginal revenue of the firm decreases...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our exper...