What is the difference between marginal cost and marginal revenue?
marginal cost is the money earned from selling one more unit of a good. marginal revenue is the money paid for producing
one more unit of a good
marginal cost is the money paid for producing one more unit of a good. marginal revenue is the money earned from selling
one more unit of a good.
marginal cost is the money a producer might make from one more unit. marginal revenue is the money a producer actually
makes from one more unit.
marginal cost is the money a producer actually makes from one more unit. marginal revenue is the money a producer
might make from one more unit.

Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling one more unit of a good.

Explanation:

Marginal cost is the extra expense incurred by producing an additional unit. The marginal cost concept is useful in determining whether continuing in production is profitable or not. Marginal revenue is the additional benefit derived by selling one more unit.

Profit-maximizing firms make comparisons between marginal revenues and marginal costs to determine when to stop production. Ideally, the firms should continue production and selling activities until marginal revenue equals marginal cost. Should selling happen when marginal cost is greater than marginal revenue, the firm will make losses.

2 weeks ago lol enoy your dunce cap

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know