Question and answer
Question not found
Ask a question
Not a good answer? Get an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
What is the MC=MR Rule?
Weegy: Marginal Cost (MC): The change in total cost as the output level changes one unit. Marginal Revenue (MR): The change in total revenue from the sale of one additional level of output. (More)
Question
Expert Answered
Asked 5/27/2012 9:42:56 AM
0 Answers/Comments
What is the MC=MR Rule? To what market structures does this Rule apply
Weegy: to firms in all types of industries (More)
Question
Expert Answered
Asked 5/27/2012 9:52:58 AM
0 Answers/Comments
Identified market structures the MC=MR Rule applies to User: Explained the MC=MR Rule
Weegy: MR = MC A firm’s profit is defined as its total revenue minus its total cost. In symbols, p (Q) = R(Q) - C(Q). [ A firm that wishes to maximize its profits may find the corresponding output by differentiating p (Q) with respect to output and finding the output that equates the derivative to zero: dp (Q)/dQ = dR(Q)/dQ - dC(Q)/dQ = MR - MC = 0. That is, profit maximization requires that, if the firm chooses to produce anything at all, it should equate marginal revenue and marginal cost. In the specific case of competitive firms, this takes the form P = MC. The second-order condition is: - PQ* - (FC + VC(Q*)) = p (Q*). Dividing both sides of this inequality by Q* and rearranging, the firm maximizes profit at Q = 0 if and only if P < , that is, if and only if the firm’s price is less than its average variable cost at the MR = MC output. Since average variable cost is equal to marginal cost at the former’s minimum, we can state the complete short-run profit-maximizing rule as follows: produce at the output for which MR = MC, provided price is greater than minimum average variable cost; otherwise shut down. to understand the formula visit this website ] (More)
Question
Expert Answered
Asked 5/27/2012 9:54:31 AM
0 Answers/Comments
21,557,161 questions answered
Popular Conversations
Financial statements should be prepared before any adjustments are ...
Weegy: Financial statements should be prepared before any adjustments are made. False. User: The credit side of an ...
7/4/2015 3:44:09 AM| 3 Answers
A chart of accounts does NOT include (Points : 1) assets. ...
Weegy: A chart of accounts does NOT include NAMES OF CUSTOMERS. User: Source documents provide objective, ...
7/4/2015 8:48:25 PM| 2 Answers
The cost of goods sold divided by the average inventory equals the ...
Weegy: Cost of merchandise sold equals beginning inventory : Plus net purchases less ending inventory. User: ...
7/5/2015 3:12:36 PM| 2 Answers
Profits from operating activities distributed to business owners are ...
Weegy: Profits from operating activities distributed to business owners are called dividends. TRUE. User: The ...
7/4/2015 3:55:42 AM| 1 Answers
Weegy Stuff
S
1
L
P
1
1
Points 135 [Total 1541]| Ratings 1| Comments 125| Invitations 0|Offline
S
1
Points 124 [Total 635]| Ratings 0| Comments 124| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
P
Points 49 [Total 9578]| Ratings 0| Comments 49| Invitations 0|Offline
S
Points 31 [Total 31]| Ratings 1| Comments 21| Invitations 0|Offline
S
1
L
L
Points 24 [Total 8404]| Ratings 0| Comments 24| Invitations 0|Offline
S
R
Points 6 [Total 208]| Ratings 0| Comments 6| Invitations 0|Offline
S
L
P
P
Points 4 [Total 3563]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 4 [Total 4]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 1 [Total 1]| Ratings 0| Comments 1| Invitations 0|Offline
S
Points 1 [Total 44]| Ratings 0| Comments 1| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.