When marginal utility is negative then what is total utility? As long as marginal utility is positive, we know that total utility is: a. negative b. increasing c. decreasing d. at its maximum When the marginal utility is zero, what is the total utility? As long...
f. When marginal cost is less than average total cost, average total cost is falling; the cost of the last unit produced pulls the average down. When marginal cost is greater than average total cost, average total cost is rising; the cost of the last unit produced pushes the average up....
What is marginal utility when total utility is at a maximum? Suppose that the marginal utility of Good X = 100, the price of X is $10 per unit, and the price of Y is $5. Assuming that the consumer is in equilibrium and is consuming both X and Y, what must the...
aFor the marginal cost (MC) and average cost (AC) curve,short-term average cost curve is determined by the law diminishing marginal returns.The average curve increased and then decrease after.When MR=AR,the demand curve will be the average-marginal revenue curve and the firm will be in equ...
which can be seen in panel on the right. When demand rises from D1 to D2, the equilibrium point goes from A to B and P2 is the established price. Because of the price which a firm use stays at P2, marginal revenue is equal to P2 at last 价格在一个纯净的竞争市场结构由需求决定,在...
While on average a higher LF-NPC potential is linked to positive revenue and income changes, results also point at an important variability across regions with similar LF-NPC potential. This variability relates to differences in the agricultural structure of each region, such as the crop mixture ...
Income elasticity of demand for a particular product: () A.Will always have a positive measurement. B.Will be of value to the Government in setting the coming year's direct tax rates. C.Will be unrelated to the possibility of changes in design of the product. D.Could be affected by ...
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According to Marginal Analysis, optimal decision-making involves a) taking actions whenever the marginal benefit is positive. b) taking actions only if the marginal cost is zero. c) taking actions whenever the marginal benefit exceeds the marginal c If the demand function is p=24/ln(q+2...
aFor a monopoly firm to increase profits it sells more in a market with high elasticity of demand and high marginal revenue, and less in a market with low elasticity of demand and low marginal revenue. They have maximized their profit when the marginal revenue in each market is equal to ...