Marginal Revenue:Marginal revenue is the additional revenue from the sale of an additional quantity of output. The marginal revenue function estimates the additional revenue that a firm can get from increasing its sale by a given quantity.
Suppose we are given the price-demand function below. P(x) = 120 - 3x What is the marginal revenue at x = 15? Marginal Revenue: The total revenue is the total income from sales. The marginal revenue is calculated from the total revenue function ...
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: ...
The optimal number of workers is determined by the well-known marginal condition. In stochastic models with labor contracts involving some kind of profit sharing both profit and worker's compensation are random variables. The appropriate marginal condition will be discussed in a model of such type....
, what is the marginal cost at the 20th unit? Marginal Cost:Marginal cost is the increase in total cost producing an additional unit of output. Given a total cost function, the marginal cost is computed by differentiating the total cost with respect to the quantity of output. The ...
Marginal revenue is the marginal addition to revenue added by the next unit of output sold. As a function, it is the derivative of the total revenue curve, which is found by inverting the demand function and then multiplying that by quantity. Marginal revenue curves, which are described by ...
Learn more about income taxes, how they work, and how to figure out how much of your hard-earned cash is going to the IRS every year.
VoIP (Voice over Internet Protocol) is a great technology that allows you to make and receive telephone calls over the Internet and has been in the mainstream now for going on 9 years. It can also be referred to as an Internet Phone. VoIP(Voice over IP) enables you to make cheap ...
It costs money to make and sell an additional unit. As long as marginal revenue is above or equal tomarginal cost, a company is making a profit. Once marginal cost exceeds marginal revenue, it makes no sense for a company to produce or sell more units of its products or services...
Ordinary income comes in two forms: personal income andbusiness income. Personal ordinary income can be defined as cash inflow subject to the standard marginal income tax rates and defined by the Internal Revenue Service (IRS). For businesses, ordinary income is generated from regular day-to-day...