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In economics,
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revenue
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marginal
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cost
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small incremental changes or adjustments are identified as _____.
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- True/False Marginal cost is the addition to the total cost when more unit of output is being produced.In economics, small incremental changes or adjustments are identified as _____. profit revenue marginal costWhen total revenue is $4000, explicit cost is $700, and implicit cost is $500, then calculate the economic gain.
- The concept of marginal cost is best described by which of the following? O Mr. Creosote meets a wafer thin mint O my costs when removing the effect of fixed cost how much my cost will change if I produce one more good Owhat my cost will be if I produce one more good Owhat my cost per unit isWater and electricity used in manufacturing company is an example of: A Manufacturing overhead - Variable cost B Direct labor - Variable cost Direct material - Variable cost D Manufacturing overhead - Fixed cost E Direct labor - Fixed cost F) Sales overhead - Fixed costCould you show the profit and loss on the graph. Furthermore, the figures for cost you posted were incorrect as they are not dropdown options.
- Marginal cost is ________ average variable cost when ________.A) equal to; average total cost is minimized B) greater than; average fixed cost is minimizedC) equal to; average variable cost is minimized. D) less than; total cost is maximizedcomplete the solution for Marginal profit of Y = dProfit /dY = -X - 4Y + 120Assume the cost of making 30 belts $800 the cost of makin 35 belts $900 and the cost equation is linear. The belts are sold for$ 27 each. a)find the marginal cost b)find a linear equation in slope-intercept, form that represent the total Cost of making will c) What is the fixed cost? d) find a profit in slope- intercept that will represent the profit if x belt are made and sold? e) Find the break even point?
- Fill in the appropriate numbers in the blank spaces, given the following information:output Total fixedcost (RM) Totalvariable cost(RM) Averagefixedcost(RM)Averagetotal cost(RM)Marginalcost(RM) 0 100 01 100 202 100 503 100 604 100 655 100 70Marginal variable costs and marginal total costs are the same. True FalseThe figure shows a bakery's marginal and average cost curves, and its isoprofit curves. The bakery is a price-taker in a large bread market. Suppose the current market price is P₁. Based on this information, which of the following statements is correct? Price, Cost €6 (5 20 40 60 80 Quantity MC hoprofits AC 100 120 140 160 180 number of loaves Select one or more: a. The bakery would be better off raising its price up to its AC level. O b. The bakery would be minimising its loss at A. Oc. If the bakery is not yet in the market then it would not enter the market. d. If the bakery is already in the market, then it would always immediately exit the market because it is making a loss.