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Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
To calculate a marginal term, [...]
Answer
take the change in the total and divide by the change in the quantity number.

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
To calculate a marginal term, [...]
Answer
?

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
To calculate a marginal term, [...]
Answer
take the change in the total and divide by the change in the quantity number.
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To calculate a marginal term, take the change in the total and divide by the change in the quantity number.

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
calculated with respect to the quantity produced and sold in a single period (as opposed to averaging a quantity over a number of time periods). For example, average revenue is calculated by dividing total revenue by the number of items sold. <span>To calculate a marginal term, take the change in the total and divide by the change in the quantity number. Exhibit 3 shows a summary of the terminology and formulas pertaining to profit maximization, where profit is defined as total revenue minus total economic costs. Note that

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