Analyzes how companies can employ the marginal revenue concept and the marginal cost concept to maximize profits using 350 words.
To use the concept, variable costs and fixed costs will have to be incorporated into and used with the marginal cost concept. How might competition lessen the possibility of use the marginal concepts to maximize profits?
DEFINITIONS OF MC, MR© BrainMass Inc. brainmass.com October 16, 2018, 5:51 pm ad1c9bdddf
The marginal cost (MC) is the cost of an additional unit of production. So, the marginal cost of the 10th stereo is the cost of producing that 10th stereo, or the total cost of producing all 10 stereos, minus the cost of producing 9 stereos. Another way of putting it is that the MC is the total variable costs (TVC) of producing 10 stereos minus the total variable cost of producing 9 stereos. This is because neither the MC nor the TVC include Fixed Costs. Fixed costs are not unit dependent, and MC and TVC are.
Marginal revenue is the additional revenue that you would gain from ...
An overview of variable costs and fixed costs with discussion of its relevance in monopoly and competition.
EEC: Variable costing concepts
EEC currently uses a basic standard cost system. Management knows very little about other concepts of costing and the benefits of having multiple costing methods. Your superior has asked that you and your team put together a presentation to management explaining various costing concepts as it relates to EEC (explain the usage and benefits of each).
As an EEC corporate business financial analyst, you must have an expert understanding of the various costing methods. Within your groups, divide the costing concepts among the individual team members to analyze and become an expert in at least one costing concept within your group. Then write a paper to include the following:
the definition of the concept
how and when the concept could be used by EEC
how the application of the concept differs from the other concepts
its advantages and disadvantages
This the topic I pick "variable costing"View Full Posting Details