Part 1 of 5 points 0 of 3 save fill in the blanks to make...

Part 1 of 5 Points: 0 of 3 Save Fill in the blanks to make the following statements correct. a. The marginal cost faced by the private decision maker is known as known as If there is a divergence between these two marginal costs, then we can say that are present. Clear all Check answer

Transcript

00:01 Hello students, in this version we have to say that the given statements are true or false.

00:07 Here first statement is the marginal cost is represented by the slope of the cost curve.

00:14 So, the first we can consider the cost function as c of x then the marginal cost will be c dash we can write c dash of x equal to d by dx of c of x that is the marginal function is obtained by differentiating the revenue function.

00:50 Hence, we can say that the marginal cost is represented by the slope of the curve since we know that the slope is m equal to dy by dx.

01:03 Here c dash of x equal to d by dx of c of x which is the slope of the cost curve and then the second statement is the cost to produce an additional item is the marginal cost.

01:21 We know that the marginal cost represents the additional cost of producing one more unit of your group of service.

02:02 So, that this statement is also true that is the cost to produce an additional item is the marginal cost and the third statement is here the marginal revenue is represented by the slope of the revenue curve.

02:21 Let us consider the revenue curve be r of x then the marginal revenue is r dash of x such that r dash of x equal to d by dx of r of x.

02:53 Hence, we can say that it is the marginal revenue that is the represented by the slope of the revenue curve.

03:03 The fourth option 3 is also true and then the fourth option is the additional revenue generated by the addition of one more item is marginal revenue.

03:18 We know that the marginal revenue represents the additional cost of one more unit of the product or service...

Question

Part 1 of 5 Points: 0 of 3 Save Fill in the blanks to make the following statements correct. a. The marginal cost faced by the private decision maker is known as known as If there is a divergence between these two marginal costs, then we can say that are present. Clear all Check answer

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