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mc does not stand for anything.
Ask MC stretch (chris wray)
Eazy-E (MC), Yella (DJ, producer), Dr. Dre (producer, MC), Ice Cube (MC, 1986-89), Arabian Prince (MC, 1986-88), MC Ren (MC, 1988-91)
How old is mc eiht
if the MRP is greater than a firms MC
The firm can afford to hire more workers.
to the point where MRP=MC
Equal to MC.
Perfectly competitive firms are price takers. This means that they can sell as much or as little as they want, but only at the going market price. When this happens, the market price is the same as their marginal revenue. Thus, P=MC is the same as P=MR.
MC Groovz Dance Craze happened in 2004.
Yes. This is because when MR is at 0, TR is at is maximum. Generally firms produce at MR=MC, therefore if MR < 0, then MC > MR and firms will not produce at the this point. And so when MR = 0, this will be the total level of revenue achieved, and so total revenue remains unchanged
he work at the 116th gas station on buckeye!!!!!!!!!!(cleveland ohio)
Combined output is too little to achieve allocative efficiency. In the long run, supply will increase as firms enter to capture economic profits being earned. Supply increase will reduce the price of cashews.
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When Marginal benefit (MB) exceed Marginal cost (MC). The society values the additional unit of product more than the cost of producing it. In this case, Net benefit will increase as long as firms produces more until the point where MB = MC. (Because every additional output will add more to MB than to MC, Net benefit will rise)
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