What is optimal output rule, Managerial Economics

Assignment Help:

What is optimal output rule?

Optimal output rule:

According to the optimal output rule, describe that profit is maximized through producing the quantity of output at that the marginal cost of the final unit produced is equivalent to its marginal revenue.


Related Discussions:- What is optimal output rule

Significance of the behavioural approach, The significance of behavioural a...

The significance of behavioural approach is difficult to assess. It provides useful insights into some aspects of business behaviour. March and Cyert have claimed considerable shor

Core contribution of the behavioural approach, If a firm's organisational c...

If a firm's organisational characteristics have not any implications for its behaviour or more possibly have implications that can be taken into account without adopting a behaviou

Show the efficient method of production, Technically Efficient Method of Pr...

Technically Efficient Method of Production Let's suppose that commodity X is produced by two methods by employing capital and labour: Factor inputs Met

Individual firm and market supply curves, Individual firm and market supply...

Individual firm and market supply curves The quantities and prices in the supply schedule can be plotted on a graph. Such a graph is called the firm supply curve. A fir

Consumer equilibrium, Consumer Equilibrium To demonstrate the consumer...

Consumer Equilibrium To demonstrate the consumer's equilibrium i.e. the point at which the consumer maximizes utility with a given budget, we need to combine the indifference

#Demand function.., Calculate point elasticity of demand for demand functio...

Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs. 3 to 2

Firm and industry supply schedules, Firm and industry supply schedules ...

Firm and industry supply schedules The plan or table of possible quantities that will be offered for sale at different prices by individual firms for a commodity is called su

Explain about the terms in perfect competition, Explain about the terms in ...

Explain about the terms in perfect competition. Perfect Competition: a. A price-taking producer is a maker whose actions have no consequence onto the market price of the g

Write Your Message!

Captcha
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!

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