Whereas the firm-determined product price exceeds marginal revenue
at every quantity beyond the first unit for a ppm (because product price must fall in order to sell additional units of output), marginal labor cost exceeds the firm-determined wage at every amount of labor beyond the first unit in the case of a rpm (because the wage must rise in order to hire additional units of labor).
To correctly model a market, a demand function, a marginal revenue
function, and a marginal cost function should be specified.
Between the minimum levels of rehabilitation therapy associated with each payment level, the marginal revenue
of additional therapy time is zero.
d) The degree to which workers are demanded and paid in accordance with their total marginal revenue
product of labor.
j] and is considered the marginal revenue
of using vehicle j.
u"' [greater than] 0, then the optimal coverage, in absolute value, is lower than the expected marginal revenue
conditioned on the realized index, in absolute value:
Optimality requires that the vector of prices is such that marginal revenue
for each product-customer combination is no less than the marginal value of the resources that will be required to just meet the demand.
It also depicts the marginal revenue
curve facing that firm when it has no contract cover.
The marginal revenue
from the screening clinic was considered to be the income received by the author as a result of office visits and procedures to reevaluate or treat a participant's suspect skin lesion.
Undertake the investment up to the point where the marginal revenue
generated by that investment is equal to the marginal cost of the investment.
This measure is the ratio of the marginal welfare cost of inflation to the marginal revenue
from a change in anticipated inflation.
DPP is maximized where the difference between marginal revenue
and average cost (as defined by DPC) is greatest.