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Business Economics Survey Of Economics

a) To find: Increase or decrease in output. When the company's MR exceeds its Mc, the company should keep operating. By leveraging extra variable input to generate additional products, the company will enhance its profits. Whenever the MR exceeds the MC, the marginal profit is favorable, and the amount of the commodity in the market must be increased. b) To determine: - Increase or decrease in output. The profit of the firm will be lower than its expenditure if the MR is lower than its MC. If MR is less than MC, the company must decrease its production. A corporation is generating very much if its MR is less than its MC of manufacturing. It must reduce its amount offered unless MR and MC are equal.

a) To find: Increase or decrease in output. When the company's MR exceeds its Mc, the company should keep operating. By leveraging extra variable input to generate additional products, the company will enhance its profits. Whenever the MR exceeds the MC, the marginal profit is favorable, and the amount of the commodity in the market must be increased. b) To determine: - Increase or decrease in output. The profit of the firm will be lower than its expenditure if the MR is lower than its MC. If MR is less than MC, the company must decrease its production. A corporation is generating very much if its MR is less than its MC of manufacturing. It must reduce its amount offered unless MR and MC are equal.

Solution Summary: The author explains how leveraging extra variable input to generate additional products will enhance the company's profits. If the MR exceeds the Mc, the profit of the firm will be lower than its expenditure.

Survey Of Economics

Survey Of Economics

10th Edition

ISBN: 9781337111522

Author: Tucker, Irvin B.

Publisher: Cengage,

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