Relation between Average Revenue, Total and Marginal Revenue
Illustrates the relation between Average Revenue, Total Revenue and Marginal Revenue?
Expert
The relationship between Average Revenue, Total Revenue and Marginal Revenue can be understood with the assist of the illustrated table:
The study of the given table reveals as follows:
1. As long as Average Revenue is falling, Marginal Revenue will be less than Average Revenue
2. Marginal Revenue falls more steeply than Average Revenue
3. Total Revenue will be rising as long as Marginal Revenue is positive
4. Where Marginal Revenue is negative, Total Revenue will be falling
5. Total Revenue will be maximization at the point where Marginal Revenue is Zero.
The relation in between elasticity of demand and Total Revenue can be summarized as given below:
An equilibrium point on the resource demand curve of a competitive firm operating within a competitive labor market would indicate equality among the resource price and: (w) demand elasticity. (x) quantity demanded. (y) VMP of the resource. (z) output
On-job training, there a college education, as well as leadership skills is all illustrations of: (w) financial capital. (x) human capital. (y) investment. (z) economic capital. Hey friends please give your opinion for the problem
What are the operational or internal issues of managerial economics?
What are the internal factors in governing prices?
Define the inelastic demand.
Illustrates the managerial Economics according to Michael Baye? Answer: In the words of Michael Baye as this term Managerial Economics is the study of how to directl
Increasing the wage rate increases total wages received through workers when the demand for labor is: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) perfectly elastic.
Illustrates the types of Demand Forecasting?
Economic capital doesn’t comprise a new: (i) luxury apartment building. (ii) bulldozer. (iii) bond issued by the U.S. Department of the Treasury. (iv) multi-tasking cell phone. (v) paper clip. I need a good a
Explain short term Demand forecasting.
18,76,764
1944396 Asked
3,689
Active Tutors
1449993
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!