7. If marginal revenue is equal to zero, thena. total revenue is zero.b. average revenue is zero.c. total revenue is at a maximum or a minimum.d. average revenue is at a maximum or aminimum.

# Marginal revenue is the additional revenue generated with the production of another unit of good…

Answered: If marginal revenue is equal to zero,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Match the descriptions below with the appropriate definition: A. Neither B. Total Revenue C. Total Cost D. Profit ? v 1. Market value of all goods and services sold 2. Cost of materials, labor, capital and other inputs of production 3. Market price minus Total cost 4. Total Revenue minus Total Cost ? ? v n. ?
Solve
32. The marginal cost curve is labeled: a L b. I. C. II d IV
A monopolistʹs supply of a good is a. independent of the monopolistʹs demand curve. b. given by the portion of the monopolistʹs marginal cost curve that lies above its average variable cost curve. c. dependent on the monopolistʹs demand curve and its marginal cost curve. d. given by the portion of the monopolistʹs average variable cost curve that lies above its marginal cost curve.
10. How is marginal product affected if workers are added who are equally good at the job?a. The increase in workers will eventually cause marginal output to fall.b. The value of marginal output increases more with each additional good worker.c. With equivalent workers, marginal productivity will neither rise nor fall.d. Marginal quality will improve as the added workers gain experience.
32. When do we say that a firm has achieved technical efficiency? a. When the price of inputs are low b. When no more outputs can be produced without adding inputs c. When the company produces new technology d. When the price of inputs are high
1. give an example of APA formating 2. what is the meaning work should be cited in work and references
When total revenue is at a maximum a. average revenue is at a maximum. b. marginal revenue is at a maximum. C. average revenue is equal to zero. d. none of the above is correct.
Explain. Incorrect as well In an imperfect market, individual firms: a. are always able to set the price of their product. b. are able to influence the price of their product. c. have no influence over the price of their product. d. take the market price as given.
Long-run costs of production are generally lower than the short run costs because: a. all inputs are fixed in the long run. b. firms cannot change their scale of production in the long run. c. there is greater flexibility in input usage in the long run.
Marginal revenue is defined as Selected Answer: b. the change in total revenue divided by quantity. Answers: a. total revenue divided by quantity. b. the change in total revenue divided by quantity. c. the change in total revenue divided by the change in quantity. d. total revenue minus total cost. e. the change in total revenue divided by the change in per unit price.
If an economy the marginal profit is $80 billion and the marginal cost is $35 billion find the marginal revenue!

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

If marginal revenue is equal to zero, then a. total revenue is zero. b. average revenue is zero. c. total revenue is at a maximum or a minimum. d. average revenue is at a maximum or a minimum.