Refer to Exhibit 24-9. Assuming that the firm is maximizing profits, the marginal cost of the last unit produced equals

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21-07-2022
Business

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Refer to Exhibit 24-9. Assuming that the firm is maximizing profits, the marginal cost of the last unit produced equals

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Tundexi Tundexi · Answer 1 · 2022-07-29T19:17:27+02:00

Most time, the marginal cost of the last unit produced equals the marginal revenue in order to ensure that the firm is maximizing profits.

When do firm maximize profits?

Most time, a firm will prefer to maximize profit in order tooIncreased its brand loyalty.

Most time, when a firm is able to cut prices and gain more customers, it will gain bigger exposure and brand loyalty and this will enables the firm to be more prominent in the market.

In costing, the the marginal cost of the last unit produced equals the marginal revenue in order to ensure that the firm is maximizing profits.