Should a firm produce at an output up to the point three

Assignment Help Microeconomics

Reference no: EM13209480

A consultant has advised Consolidated Fish, Inc. that it should cut back its production in order to increase its profits. We can conclude from this that 2. To maximize profits, a firm should produce at an output up to the point where 3.

I. Marginal revenue is the additional revenue from selling one more unit of output.

II. A firm will always produce at an output at which marginal revenue is greater than marginal cost, except when it is minimizing its losses.

Reference no: EM13209480

Questions Cloud

Describe the primary and secondary audiences : Describe the primary and secondary audiences for your selected topic and explain reasons these are the major audiences for your selected topic

Why the graduates still had not found jobs : The Wall Street Journal reported that recent law school graduates were having a very difficult time obtaining jobs in the legal profession. Many law schools said that 10 to 20 percent of their graduates still had not found jobs.

Displacement upstream : A boat moves through the water of a river at 15 m/s relative to the water, regardless of the boat's direction. If the water in the river is flowing at 1.5 m/s, how long does it take the boat to make a round trip consisting of a 220 m displacement dow..

Technologies interacted with other sources of change : What have their social consequences been and Are these consequences solely due to these technologies, or have these technologies interacted with other sources of change?

Should a firm produce at an output up to the point three : I. Marginal revenue is the additional revenue from selling one more unit of output. II. A firm will always produce at an output at which marginal revenue is greater than marginal cost, except when it is minimizing its losses.

Explain equation of line determined from a beer''s law plot : the equation of line determined from a beer's law plot is y=0.195x+0.4. what is the resistance of an unknown water sample if the assumed concentration is 650ohms.

The research on diversification in portfolio management : The research on diversification in portfolio management indicates that the best approach is probably

Explain the van der waals and redlich-kwong equations : Show that the van der Waals and Redlich-Kwong equations of state reduce to the ideal gas equation of state in the limit

What would you have to do to increase internet access : What would you have to do to increase Internet access? List the steps you would have to take or who you would have to contact to have this change take place in the classrooms at your school.

User Account

All Pages