When the price equals marginal cost, what happens? What is the marginal cost and average total cost of: TC=10q^3 - 20q^2+300q How does sunk cost differ from a marginal cost? Describe the relationship between marginal and average costs. ...
What happens when revenue increases?Accounting:Accounting entails recording, analyzing, summarizing, and reporting activities in a business that are related to finances. However, all activities recorded will always result in money leaving or entering the business....
What happens to profits under perfect competition in the long run? Why? Explain the long run economic profit earned by each of the four: -perfect competition, -monopolistic competition, -oligopoly and -monopoly. Explain how the concept of economic profit might help e ...
1. In the figure, AVC is represented by curve a. A b. B c. C 2. In the figure, MC is represented by curve a. A b. B c. C 3. In the figure, ATC is represented by curve a. A b. B c. C 4. In the figure, when 40 units are produced the averag...
What generally happens to profits for the typical firm in the long run in a pure monopoly? How high should a monopoly set its prices in order to maximize profits? When you post a response to this question, place it in the context of one How high should a monopoly set its prices in or...
In the short run what happens to the level of output when the government increases its spending? 1) Aggregate demand shifts outward, decreasing the equilibrium level of output 2) Aggregate demand sh Would you expect a shift in supply to significantly affect equilibrium quantity in the shor...
d. average revenue equals average cost. What do you mean by marginal cost and marginal revenue? Suppose that at this same firm's profit-maximizing level of output, average costs are ATC = $43. What are the firm's total profits earned? Suppose that at t...
At the point of intersection, the slopes of two curves are the same, which means the Marginal rate of substitution equals the ratio of prices. The changes in the prices of goods and income of consumers cause a shift in the point of consu...
Answer to: When looking at the cost variables, the term "marginal cost" comes up. What does it mean, and how does it impact business decision...
Answer to: Using a graph, show what happens to player effort in a tournament if the marginal cost-of-effort curve shifts upward. By signing up,...