Define marginal cost
Marginal cost: It is the change in sum cost by generating one more or less unit of output.
I have a problem in economics on Implicit and explicit economic costs. Please help me in the following question. The Economic profit is the difference among total revenue and: (i) The sum of explicit and implicit economic costs. (ii) Accounting cost. (iii) Variable co
Select the right answer of the question. A supply curve that is a vertical straight line indicates that: A) production costs for this product cannot be calculated. B) the relationship between price and quantity supplied is inverse. C) a change in price will have no ef
Cartel agreements tend to be unstable since: (1) outputs are homogenous. (2) cooperation replaces competition. (3) all governments oppose cartels. (4) members have incentives to cheat. (5) All of the above. Hello g
Linear consumption function: It is a consumption function that is given on the basis of steady marginal propensity to consume. C = c + bY Here c = aut
Complements: The two goods for which a rise in the price of one good leads to a reduction in the demand for other.
How is TVC derived from MC? Answer: TVC = Sigma MC
For a purely competitive firm long run equilibrium is characterized by: (w) P > MR > MC > ATC. (x) P = MR = MC = minimum LRAC. (y) maximum MC - MR. (z) minimum TR + TC. Can anybody suggest me the proper ex
Whenever a firm consists of a collective bargaining agreement with its employees and unionized employees reject to handle the goods generated by other firms if the workers for other firms are on strike, then the unionized employees are engaged in the: (1) Secondary bo
Can someone help me in finding out the right answer from the given options. The labor union goals for members don’t usually comprise: (i) Higher wages. (ii) Better working conditions. (iii) Bigger fringe advantages. (iv) Elimination of feather-bedding.
Total revenue for the firm in illustrated figure is __________ __________ total cost.: (w) greater than (x) less than (y) equal to (z) Cannot be determined by the information given. Discover Q & A Leading Solution Library Avail More Than 1437341 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1925976 Asked 3,689 Active Tutors 1437341 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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