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Svetradugi [14.3K]
3 years ago
11

In a competitive market, if production (and consumption) continues until the marginal benefit of one more unit equals marginal c

ost, then total surplus is maximized.
true/false
Business
1 answer:
Pachacha [2.7K]3 years ago
8 0

Answer:

False

Explanation:

In a competitive market, if production (and consumption) continues until the marginal benefit of one more unit equals marginal cost, then total surplus is maximized.

As for any extra unit produced

Marginal Benefit > Marginal cost = Surplus

Marginal Benefit = Marginal cost = No Surplus / No loss

Marginal Benefit > Marginal cost = loss

When your Marginal benefit is maximum and Marginal cost is minimum then the surplus will be maximized.

Most efficient situation in which benefit is maximum and the cost is minimum results in maximized surplus.

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Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers. Higher sales for a business that employs successful marketing strategies translate into expansion, job creation, higher tax revenue for governments and, eventually, overall economic growth.

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What is happening with Unemployment of Indonesia over the past 2 or 3 years?
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Explanation:

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2 years ago
What should you be concerned about if you are<br> going to buy television ads for your business?
vladimir1956 [14]

Answer:

Explained below.

Explanation:

The things I will be concerned about if I am going to buy television ads for my business are given as follows:

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6 0
3 years ago
Assume a​ Cobb-Douglas production function of the​ form: q equals 10 Upper L Superscript 0.33 Baseline Upper K Superscript 0.75.
Gnesinka [82]

Answer:

Since 0.33 + 0.75 = 1.08 is greater than one, this production function therefore exhibits increasing returns to scale.

Explanation:

From the question, we have the following restated equation:

q=10L^{0.33} K^{0.75}

Where q is the output, and L and K are inputs

To determine the types of returns to scale, we increase each of L and K inputs by constant amount c as follows:

q = 10(cL)^{0.33}(cK)^{0.75}

We can now solve as follows;

q = 10c^{0.33+0.75} L^{0.33}K^{0.75}

q=c^{1.08} L^{0.33} K^{0.75}

Since 0.33 + 0.75 = 1.08 is greater than one, this production function therefore exhibits increasing returns to scale.

4 0
3 years ago
10 times as as 100 is
Kazeer [188]
The answer to this is 1000
6 0
3 years ago
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