Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Connect with professionals ready to provide precise answers to your questions on our comprehensive Q&A platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

In your own words, explain what is happening in this chart. Please use the terms Marginal Cost and Marginal Revenue in your answer.

In Your Own Words Explain What Is Happening In This Chart Please Use The Terms Marginal Cost And Marginal Revenue In Your Answer class=

Sagot :

Answer:

marginal revenue is decreasing and marginal cost is remain the same.

Explanation:

The marginal revenue is decreasing with the increasing number of hours of operation whereas the marginal cost remain the same. The cost of producing an additional unit will increased the revenue generated. When marginal revenue falls below marginal cost, the firms adopt the cost-benefit principle and stop further production of the product, because no further benefits are gained from additional production of that commodities.

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.