- Select a product. It can be real or made up. Give your good or service a name and a price in U.S. dollars. Identify the market type for your product (pure/perfect competition, monopolistic competition, oligopoly, monopoly).
- Draw a marginal analysis graph. Title it the market for the product you chose. Label the axes, the marginal cost curve (MC), the marginal revenue curve (MR), and the profit-maximizing quantity (Qpm). You do not need to use real numbers.
- Answer the reflection questions in complete sentences:
- What is your product and its price? What type of market does your product exist in?
- Why is the marginal cost curve the same basic shape, no matter the product?
- At the profit-maximizing quantity, is the price of your product equal to, higher than, or lower than marginal cost? Explain.
- Assume Qpm is 100 units. What is your total revenue?
- Why would an already-successful business owner conduct a marginal cost analysis for their product?
Create a marginal cost analysis graph and then answer the five reflection questions.
How our paper writing service works
It's very simple!
-
Fill out the order form
Complete the order form by providing as much information as possible, and then click the submit button.
-
Choose writer
Select your preferred writer for the project, or let us assign the best writer for you.
-
Add funds
Allocate funds to your wallet. You can release these funds to the writer incrementally, after each section is completed and meets your expected quality.
-
Ready
Download the finished work. Review the paper and request free edits if needed. Optionally, rate the writer and leave a review.