Total, average, marginal and incremental revenue concept
Explain the meaning of total, average, marginal and incremental revenue.
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Total revenue implies the product of commodity price to the total quantity of outputs produced within a current business period. As well as average revenue is acquired by dividing the total revenue along with number of units sold. And also marginal revenue is the additional revenue to total revenue while an additional unit is generated.
While an economic change creates one person worse off without influencing anyone else, this is: (w) good for society. (x) an inefficient change. (y) neither bad nor good for society. (z) strictly a macroeconomic issue. Q : Explain the meaning of business cost Explain the meaning of business cost.
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Short run total revenue of the purely competitive firm would be at a maximum along with: (1) 600 workers. (2) 700 workers. (3) 800 workers. (4) 900 workers (5) 1000 workers. Q : Explain the term relatively inelastic Explain the term relatively inelastic demand.
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Provide a brief introduction of the term Marginal Costing? And also write down the essential suppositions made by Marginal Costing?
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A decline within consumer demand for a good tends to reduce demands for: (w) inferior goods. (x) alternative products. (y) resources producing the good. (z) union wage increases. Hey friends please give your opinio
Explain the aspects of operational or internal issues.
If the wage rate increases from $10 per hour to $25 per hour, then the elasticity of the supply of labor from this worker is roughly: (1) zero. (2) 7/15. (3) one. (4) minus 8/15. Q : Employment Screening If job applicants If job applicants are asked for letters of recommendation and copies of their college transcripts, in that case a firm is practicing: (1) wage discrimination. (2) employment screening. (3) job signaling. (4) a structural employment system (5) credentialism.
If job applicants are asked for letters of recommendation and copies of their college transcripts, in that case a firm is practicing: (1) wage discrimination. (2) employment screening. (3) job signaling. (4) a structural employment system (5) credentialism.
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