I know that when Total Revenue reaches its peak (TR=1), then the Marginal Revenue =0, but when Total Revenue exceeds its peak, what does the Marginal Revenue reach?© BrainMass Inc. brainmass.com October 24, 2018, 9:15 pm ad1c9bdddf
When you say "Total Revenue exceeds its peak", I assume that you mean the firm's quantity of output exceeds ...
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Profit-maximizing output ..
Illustrate and explain how the profit maximizing level of production and is determined in perfect competition. Illustrate and explain what it means for the market to move towards a long-term equilibrium condition.View Full Posting Details