User Account

All Pages

Marginal cost of an additional unit of output

Assignment Help Business Management
Reference no: EM131185990

Marginal Cost (MC)

The marginal cost of an additional unit of output is the cost ofthe additional inputs needed to produce that output. More formally,the marginal cost is the derivative of total production costs withrespect to the level of output.

Marginal cost and average cost can differ greatly. For example,suppose it costs $1000 to produce 100 units and $1020 to produce101 units. The average cost per unit is $10, but the marginal costof the 101st unit is $20

The EconModel applications Perfect Competition and Monopolyemphasize the roles of average cost and marginal cost curves. Theshort movie Derive a Supply Curve (40 seconds) shows an excerptfrom the Perfect Competition presentation that derives a supplycurve from profit maximizing behavior and a marginal cost curve.

Reference no: EM131185990

Questions Cloud

Developing a strategy for your firm is a key part of success : Developing a strategy for your firm is a key part of success in the simulation environment and in real life business operations.
Example of howcost-benefit analysis : What is cost-benefit analysis? Give an example of howcost-benefit analysis can be used in air pollution control.
Four-year university degree : Assume that you are deciding whether to acquire a four-year university degree. Your only consideration at this moment is the degree as an investment for yourself. Costs per year are tuition fees of $600 and books at $100.
Why do you think the author wrote the given story : Why do you think the author wrote this story? If you were the author, would you have ended the story in a different way? Why? How so? How does the author provide information or details to make the story seem realistic?
Marginal cost of an additional unit of output : The marginal cost of an additional unit of output is the cost ofthe additional inputs needed to produce that output. More formally,the marginal cost is the derivative of total production costs withrespect to the level of output.
How is criminal justice system portrayed : What feelings or reactions are evoked in you by the article? How would you explain the reported criminal behavior using at least two theories from the psychological perspectives to each article or news story?
Estimate the heat dissipated from the finned : Estimate the heat dissipated from the finned and the unfinned surface areas of cylinder body.
Shift under the affordable care act : Analyze the role of the paradigm shift under the Affordable Care Act and discuss how transparency will play a greater role in pricing of health care. In your opinion, will consumers begin to demand increasing transparency in pricing? Provide at le..
Paradigm shift under the affordable care act : Analyze the role of the paradigm shift under the Affordable Care Act and discuss how transparency will play a greater role in pricing of health care. In your opinion, will consumers begin to demand increasing transparency in pricing? Provide at le..

Reviews

Write a Review

Business Management Questions & Answers

  Effective capacity of order taking versus stock pickers

Rx's R Us is a mail order dealer of homeopathic medications. It has six phone lines for receiving orders. Determine the effective capacity of order taking versus stock pickers?

  Measuring customer satisfaction direction to meet best

measuring customer satisfaction direction to meet best practices advocatemeasuring customer satisfaction paper research

  How does working effectively on a team

Based on your self-assessment, what do you see as your strengths and weaknesses regarding working on a team? Have you ever engaged in social loafing while on a team? Why or why not? How does working effectively on a team give you an advantage in the ..

  Global management1one of the biggest stumbling blocks in

global management1.one of the biggest stumbling blocks in effective communication is that intercultural sensitivity is

  What wil be the principal balance at the end of 2 years

Nicholas received a loan of $24,000 from the bank at 6.00% compounded monthly. If he had to repay $350 at the end of every month, what wil be the principal balance at the end of 2 years?

  Diversity of thought in organizations

Diversity of thought in organizations - Why is diversity of thought important for today's organizations?

  Small businesses generally need more marketing

Research the steps entrepreneurs on restricted marketing budgets can us to market their companies' products and services. Provide in-text citations for your sources.

  Information systems staffs are familiar with the platform

Advantages to running your new system on the existing platform comprise all of the following except: The information systems staffs are familiar with the existing platform.

  Challenges in the us healthcare systemyou are being asked

challenges in the us healthcare systemyou are being asked to consider issues of provider supply.1. is there a surplus

  What is the role of leadership in an innovative organization

What is the role of leadership in an innovative organization? How is this type of leadership different from that of a non-innovative organization? Would you describe the leadership of your organization as innovative? Why or why not? Explain.

  Work culture of an organization

Why is the partnership with the management team so important to this process and Work Culture of an organization

  Use and ethics of rfid technology to consumers

What are the potential ramifications of this technology to consumers? What is the outlook for next few years with regard to RFID?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd