Define and explain how to calculate marginal costs (MC). How do you find the marginal cost? What is meant by the marginal cost of a power plant? What is the difference between the fixed cost and the marginal cost? How can marginal cost be a constant?
In economics, marginal thinking is best demonstrated by what? What is marginal analysis economics? What are the non-price determinants of demand and supply? What is money cost in economics? What is the money supply in macroeconomics? What is total utility in economics?
What Is Meant by Zero-Cost Marketing? A zero-cost marketing strategy stresses the use of low-cost or no-cost ways to promote a product, service, or brand. The purpose of zero cost marketing is to generate greatest impact with the least amount of money. This strategy often relies on free...
Volatile but not unmanageable:The Emini is active daily, giving the day trader plenty of opportunities to trade. Remember, a “sleepy” market is impossible to day trade. However, the Emini volatility is also manageable – except maybe around FOMC announcements – and is not driven by individu...
What is the marginal product of labour (MPL)? Production: The term production refers to the transformation of raw material and other inputs in the valuable output that is readily available for consumption by the consumers or buyers. Answer and Explanation: ...
What is meant by underinsurance? Underinsurance basically refers to a person having insurance coverage but with a policy that won’t pay out enough to cover the full expenses incurred when filing a claim. For example, if Roy has his house insured for $200,000, but the cost to repair it...
Much has changed since then. Business and real estate are booming. Some say a new renaissance is under way. Others decry what they see as outside forces running roughshod over the old Harlem. New York meant Harlem to me, and as a young man I visited it whenever I could. But many of...
What is meant by the term price maker? What is something about the video game industry that defies economic terminology? Under what condition will a monopoly incur losses? (a) What is a sunk cost? (b) Give an example of a sunk cost. (c) Why are such costs irrelevant in making de...
Bello clearly improved over the course of the season, and he is the type of talent who is still being monitored by Champions League clubs. This was the perfect year to live through the bad moments in order to get to the types of good moments his talent says he's capable of producing....
Profit is maximised when marginal revenue (the additional sales generated by the extra unit) is equal to the marginal cost. Calculating profit maximisation While there is no direct formula for profit maximisation, companies can calculate marginal profit using the formula below to identify the point ...