Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Experience the ease of finding reliable answers to your questions from a vast community of knowledgeable experts. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

Which is the first step in marginal analysis?

A. Determine what price the company wishes to charge for its products.
B. Identify fixed and variable costs for specified quantities of product.
C. Find the marginal cost of producing one additional unit of a product.
D. Calculate the marginal revenue of producing one additional unit of a product.

Sagot :

GinnyAnswer

Final answer:

The first step in marginal analysis involves defining marginal cost as the change in total cost from producing a small amount of additional output.


Explanation:

Step 1: Define marginal cost as the change in total cost from producing a small amount of additional output.

Step 2: Identify the change in total cost or variable cost for producing one more unit of a product.

Step 3: Calculate the marginal cost by dividing the change in total cost by the change in quantity.


Learn more about Marginal Analysis here:

https://brainly.com/question/34120527


We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.