In what products or services is the marginal cost of a business smaller, compared to the marginal...
Question:
In what products or services is the marginal cost of a business smaller, compared to the marginal price of a consumer?
Marginal Cost:
Marginal cost is the additional cost incurred in producing addition output. It can be calculated by determining the change in the total cost of production in producing one more unit of product. It includes all the costs that are fixed and variable.
Answer and Explanation: 1
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View this answerThe profit maximization firms sell their goods and services at a price equal to the marginal cost of the product. It is the profit maximization...
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Marginal Cost: Definition, Equation & Formula
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Chapter 3 / Lesson 12
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What is marginal cost? Learn how to calculate marginal cost with the marginal cost formula. See the definition, behavior, and marginal cost examples.
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