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What Is Relationship Between Marginal Revenue And Marginal Cost?

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Aisha answered
Marginal Revenue is an additional revenue that an extra unit of product will bring to an organization. It is the change in total revenue/change in number of units sold.
On the other hand, marginal cost is the change in total cost which arises when the quantity produced changes by one unit.
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Anonymous answered
The point at which MR=MC is the point of profit maximization. Any additional production beyond MR=MC results in greater profits, but those profits are tempered by higher production, with the result that each additional output yields an increasingly smaller additional return.  Below MR=MC, the firm has unrealised profit potential in that additional output - which is not being made - could provide a higher per-unit profit.
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Anonymous answered
Is a long run a period long enough for a firm to decide to whether or not  to install for example additional machines

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