Asked by oluwatosin babalola on Jun 13, 2024
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Draw a graph of the firm's demand,marginal revenue,marginal cost,and average total cost curves.
Marginal Revenue
The extra revenue obtained by selling an additional unit of a product or service.
Marginal Cost
The increase in cost resulting from the manufacture of one extra product or service unit.
Average Total Cost
The total cost of production divided by the quantity produced, including both fixed and variable costs.
- Acquire knowledge on the visual demonstration of enterprise actions, involving the curves related to demand, marginal revenue, marginal cost, and average total expenses.
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Learning Objectives
- Acquire knowledge on the visual demonstration of enterprise actions, involving the curves related to demand, marginal revenue, marginal cost, and average total expenses.