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What is the equation for marginal net benefits?
Marginal net benefits= Marginal benefit- Marginal cost
When a firm's marginal revenues are higher than its marginal cost?
Marginal cost is
What is marginal profit?
In economics, marginal profit is the difference between the marginal revenue and the marginal cost of producing an additional unit of output.
If you have Marginal Cost and Marginal Damages how do you find the optimal level of output?
The optimal level of output is where marginal costs = marginal damages.
What war the 3 stages of production?
Three stages of production are increasing marginal returns, diminishing marginal returns, and negative marginal returns.
What is meant by marginal non marginal complete incomplete syndesmophytes?
In regards to marginal vs. non-marginal syndesmophytes. Marginal syndesmophytes (intervertebral bony bony bridges) are more commonly seen in ankylosing spondylitis. Where as non-marginal syndesmophytes are more commonly in reactive arthritis and DISH. Marginal syndesmophytes are delicate + symmetric; while non-marginal syndesmophytes are bulky + discontinuous.
What is the optimal level of pollution?
when marginal benefit is equal to marginal cost To be more specific: When the marginal damage cost of polluting is equal to the marginal abatement cost of polluting (or the marginal benefit of polluting, which is equivalent to the MAC)
If you have total cost and total benefit how do you get marginal cost and marginal benefit?
Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity
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.
What is the relationship between marginal physical product MPP and marginal cost MC Provide an examples?
what is the relationship between marginal physical product and marginal cos
Why is marginal analysis involved in economics?
Economic theory makes much use of marginal concepts. Marginal cost, marginal revenue, marginal rate of substitution, marginal utility, marginal product, and marginal propensity to consume are a few examples. Marginal means on the margin and refers to what happens with a small change from the present position. It is the concept of economic choices to make small changes rather than large-scale adjustments. Marginal analysis is the key principle of profit-maximization in firms and utility maximization among consumers.
How can marginal revenew and marginal costs help set the most profitable putput level?
The most profitable output level is when marginal costs equals marginal revenue. When marginal revenue is larger than marginal cost, that means that more product can be produced for more profit.
