Total revenue exceeds peak

Related BrainMass Solutions

• Profit-maximizing output

  At larger or smaller output levels, marginal cost exceeds marginal revenue or marginal revenue exceeds marginal cost.

• Firm should produce in the short run or shut down

  Total cost exceeds total revenue at all output levels. b) b. Total variable cost exceeds total revenue at all output levels. c) Total revenue exceeds total fixed cost at all output levels. d) d.

• Marginal costs

  Producing and selling 1 more units adds more to total revenue than to total cost, thereby increasing total profit. If marginal cost exceeds marginal revenue, the extra unit of output reduces total profit.

• perfectly competitive firm

  They earn economic profits if total revenue exceeds total cost, earn a normal profit if total revenue is equal to total cost, and incur economic losses if total revenue is less than total cost. 3) If a perfectly competitive firm finds that the price

• total variable cost

  cost exceeds its total revenue.

• Monopolist and Monopolistically competitive markets

  Question 8 A monopolist will maximize profit by producing the level of output at which a. the firm's total revenue exceeds total cost by the largest amount. b. marginal revenue equals marginal cost.

• Variable Costing methods and calculations

  Only accept the order if the incremental revenue exceeds fixed product costs. Only accept the order if the incremental revenue exceeds total variable product costs.

• Multiple choice firm profitability questions

  total cost b. average total revenue exceeds its average variable cost c. marginal cost exceeds marginal revenue d. marginal revenue exceeds marginal cost 3.In the dominant firm model of oligopoly, the dominant firm acts as if it was a a. perfect

• Multiple Choice

  average total cost and marginal cost equals marginal revenue 2.