--%>

Define marginal cost

Marginal cost: It is the change in sum cost by generating one more or less unit of output.

   Related Questions in Microeconomics

  • Q : Economy affects in government spending

    How do economy affects when there is reductions in government spending?

  • Q : Labor Union Goals economically

    Economically, the labor unions can be thought of as the: (i) encouraging competition between the workers for jobs. (ii) Rising the flexibility of nominal wages. (iii) Attempts to cartelize and unite the individual sellers of labor. (iv) Having a goal of the minimum un

  • Q : Oligopolistic pricing behavior

    Collusive oligopolistic pricing behavior: (1) leads to natural monopoly when only some firms dominate an industry. (2) entails overt agreement among many firms in setting outputs and prices. (3) arises while contestable firms simultaneously raise or l

  • Q : Supply of labor in perfectly

    Supply of labor in perfectly competitive market

  • Q : A monopolist in market power A

    A monopolist: (w) is a price taker in the sale of its product. (x) can charge any price this wishes without reducing profit. (y) is not a price taker into the sale of its product. (z) may or may not be a price taker within the sale of its product.

  • Q : Maximizes profits or minimizes losses

    When it is feasible for total revenue to exceed variable costs, in that case a monopolist which does not price discriminate maximizes profits or minimizes losses from producing the output where marginal revenu

  • Q : Price elasticity of demand while price

    Alyssa’s Floral Shoppe dropped its prices for a dozen increases from $45 to $35 in this year. Due to this decrease within price, the quantity sold raised from 1000 to 1500. Therefore the price elasticity of demand for Alyssa’s rises is: (w

  • Q : Define demand with market supply and

    When technological advances boost market supply and total revenue both within an industry, in that case: (w) demand is relatively price elastic. (x) the industry is dominated by a monopoly. (y) patenting technological advances ensures

  • Q : Determine demand when total revenue and

    When raising ticket prices for Brad Paisley concert tickets raises total ticket revenue, in that case the demand for the concert tickets: (i) perfectly price inelastic. (ii) relatively price inelastic

  • Q : Implication of the law of demand The

    The law of demand implies a relationship which: (i) Apply merely in the market economy. (ii) Needs government enforcement to work. (iii) Is negative among price and quantity demanded. (iv) Applies merely whenever scarcity is cured.