Economics
Economics question
- Define MR and MC.
- How can a firm maximize its profits?
- Explain why a change in a firm’s total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
Name the different types of Anti-trust laws
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Marginal revenue is the total additional profits an organization collects after increasing the sale of products by one unit while marginal cost is the addition cost required in the firm to produce an extra one unit. There are several ways a company can maximize its profits: the company should have an effective strategy which helps the company to spend less in their…
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