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Discuss the total revenue and total cost

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Reference no: EM131549352 , Length: 800 Words

Discuss the following

A. total revenue and total cost

B. The concept of marginal revenue

C. The concept of marginal cost

D. Given the following data get

Profit maximizing point

Question E: Firm decision when MR is greater than MC

Question F: Firm decision when MC is greater than MR

Use Apa referencing with minimum of 4 sources

Verified Expert

By definition, total revenue comprises the total income of a firm from the sale of its goods and services (Tucker, 2011, p. 12). On the other hand, total cost is made up of the total expenditure in the production of a good or a service. The elements of total include things such as variable costs, fixed cost, andsemi-variable costs.

Reference no: EM131549352

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