Avail Demand and Marginal Revenue for a Competitive Firm Assignment Help for a Grade
We all know that the main motive of the corporations is to make their profit levels very high so that they can keep their manufacturing and business processing goes on. This can be achieved by keeping the levels of their minimal cost to a lower level than minimal revenue annuity. Profit can be calculated by subtracting overall annuity with overall price.
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Concept of Marginal Revenue
We all know that the concept of increasing the level of profit is only applicable if both the minimal cost and annuity remain equal to each other. By in this section, we can understand that Marginal revenue is the extra revenue that the manufacturer receives when they sell a particular item that the firm produces.
Concept of Demand Revenue
Demand revenue, on the other hand, is far opposite to marginal revenue. It is totally related to consumers, and it has nothing to do anything with the manufacturers of a particular firm. Here, it means that the amount of items is to be measured that the buyers wanted to purchase or are likely to purchase.
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Why is demand curve important?
Demand curve is very much important that marginal curve. This is because there a point comes when it is important to know the much a seller can make their prices low of a particular item for the sake of selling that. Their main motive is not only to make profits but also to sell the products as they can along with satisfying the customers. And this can be done if they keep the prices of their items low.
Plotting graph of demand and marginal revenue
In economics, demand and marginal revenue can also be understood graphically. Basically, it will make the level of problem much easier to understand. At myhomeworkhelp.com, the curves of the graphs are very nicely explained by our professional experts. So hurry up and go for demand and marginal revenue for a competitive firm homework help soon.
Exceptional case of demand and marginal revenue for a competitive firm assignment help
There is an exceptional case for both the marginal as well as the demand curve today’s competition market. There is a case where a manufacturer comes to meet a kind of demand curve known as plastic demand curve. If they meet that curve, then they no longer have to make their prices low to do their business. This is the time when the marginal revenue and the rates of the items become equal. Hence, both the graphs are equal.
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