Answered

Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A 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.

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.