Revenue Concept - Cost Concept
Define the Revenue Concept in brief.
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Revenue means the current income or only sales receipts. Conversely, this is the money value of output sold within the market. Moreover this has great relevance in economics and business.
When the marginal revenue product of the last worker hired is superior to the marginal resource cost of the worker, in that case the firm: (w) is experiencing increasing returns to scale. (x) can increase its profits by hiring more la
Inefficiency may exist within a labor market while a firm only hires labor up to a certain point where: (w) the value of labor’s marginal product equals the wage rate. (x) VMP > MRC. (y) MPPL = w/P. (z) the last unit of labor adds as much to
What are the scopes of managerial economics?
States the Extension and Contraction of Demand.
Val Alvarado, an accountant, quit his $80,000 year job and bought an existing laundry through its earlier owner, he was Ricky White. The lease has five years stayed and needs a monthly payment of $4,000. Val's explicit cost amounts to $3,000 per month more than his
Explain the Exceptional Demand Curve.
Extra revenue by the extra output produced from an additional unit of a resource is the marginal resource: (1) profit to the firm. (2) revenue product. (3) iso-utility curve. (4) resource cost. (5) productive value. Q : HW Hello, Would you please find a small Hello, Would you please find a small case study in managerial economics. please I don't want the typical solution because the prof have it. thanks
Hello, Would you please find a small case study in managerial economics. please I don't want the typical solution because the prof have it. thanks
Illustrates the opinion of Samuelson for explaining Law of Demand?
Illustrates the Barometric technique of Demand Forecasting?
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