In a pedagogically useful reconstruction of the theory of factor pricing, he first contrasts the timeless neoclassical general equilibrium theory, in which prices of factors of production correspond to the factor's marginal revenue
product and are determined simultaneously with final output prices, with the Austrian analysis of price determination in the evenly rotating economy (ERE).
The marginal revenue
of a minister or advisor becomes negative if we add overheads like air-conditioning, transport, ministerial payroll, and so on.
Second, Mises did not use marginal revenue
in his analysis of margin monopoly.
If marginal revenue
is greater than marginal cost, then this implies that the very next unit the producer makes will bring in more revenue than it costs to make.
[H.sub.A-Nash]): A unilaterally profit-maximizing firm would produce where the firm's marginal revenue
equals its marginal cost.
(9) Economists use the terms marginal value product, value of marginal product and marginal revenue
Marketing analysis indicates that total revenue for AX-12 at 10,000 units will be $200,000, and total revenue at 12,000 units will be $235,000; thus, Beta faces declining marginal revenue
. It will incur a $5 per-unit variable cost in the production of AX-12, but no incremental fixed cost.
production up to the point where the marginal revenue
of making one more
The objective can be accomplished through estimating the production function for dates and deriving marginal product and marginal revenue
functions of water resources, estimating the value of the marginal revenue
of water resources in the domestic market price and export price (social price for dates), and measuring the impact of changes in the prices of water resources on the water quantities used in the production of dates.
In this case, marginal revenue
depends explicitly on the number of workers employed, which changes the incentives for a firm in a noncooperative bargaining setting.
(5) The well-known Shapley value, in this case the expected marginal revenue
of each song, averaging over all of its possible arrival orders in the bundle, provides a theoretical solution to the revenue-sharing problem.
The first part is the marginal revenue
for the subscribers, and the second part concerns the congestion effects which is [partial derivative][Q.sub.i]/[partial derivative][d.sub.i] < 0 if [d.sub.i] > [d.sub.i.sup.*] or 0 otherwise.