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Profit=Total revenue - Total cost

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2010-04-26 01:41:57
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Q: How do you calculate marginal revenue cost by math and graphically and marginal in general?
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What is the distinction between marginal revenue product and marginal revenue?

I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"

How does a monopolistically competitive firm determine its profit-maximizing price?

price = marginal revenue. marginal revenue > average revenue. price > marginal cost. total revenue > marginal co

What is marginal revenue?

Marginal revenue is the change in total revenue over the change in output or productivity.

Why the marginal revenues curve is always half of the demand curveexplain graphically and algebrically?

Firms in most cases opt to select prices in the elastic regions of their demand curve. This fact explains why marginal revenue curve is always below.

A company is maximizing profit when marginal revenue?

A company maximizes profits when marginal revenue equals marginal costs.

Marginal revenue curve?

Explain why the marginal revenue(MR) is always less than the average revenue (AR)?

What is the formula to find the marginal cost?

Marginal Cost = Marginal Revenue, or the derivative of the Total Revenue, which is price x quantity.

What is the meaning of average revenue and marginal revenue?

what is average revenue?

A monopolist will set its production at a level where marginal cost is equal to?

A monopolist will set production at a level where marginal cost is equal to marginal revenue.

Why do the demand and marginal revenue curves coincide?

Because in Pure Competition, Demand equals Price, and Price equals Marginal Revenue;hence, Demand equals Marginal revenue.

Explain the relationship between average revenue and marginal revenue?

Average Revenue: Total revenue divided by the number of units sold. Marginal Revenue: Is the extra revenue that an additional unit of product will bring. It is the additional income from selling one more unit of a good; sometimes equal to price. It can also be described as the change in total revenue ÷ the change in the number of units sold. Relationship: They both are the revenue brought in by, in this case, units sold. They are both used to calculate the total revenue just that marginal is any exrta revenue that the average revenue has left over.

Profits will be maximized when marginal revenue?

Profits will be maximized when marginal revenue is equal to marginal costs. This will only happen in cases where there are fixed costs.

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