Economics, Accounting & Business: Post your doubts here!

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Bushrafareed

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I'm not saying marginal cost isn't relevant , what I'm proving is marginal cost reaches to minimum first and even this question is is proving it.
WaleedUQ said:
read what comes first,
for business marginal cost is relevant what i am trying to tell you is that ure approach is not appropriate
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WaleedUQ

WaleedUQ

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WaleedUQ said:
its a repeated question :D
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In economics, the term economic efficiency refers to the use of resources so as to maximize the production of goods and services.[1] An economic system is said to be more efficient than another (in relative terms) if it can provide more goods and services for society without using more resources. In absolute terms, a situation can be called economically efficient if:
  • No one can be made better off without making someone else worse off (commonly referred to as Pareto efficiency).
  • No additional output can be obtained without increasing the amount of inputs.
  • Production proceeds at the lowest possible per-unit cost.
Sources WIKI
 
WaleedUQ

WaleedUQ

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Bushrafareed said:
I'm not saying marginal cost isn't relevant , what I'm proving is marginal cost reaches to minimum first and even this question is is proving it.
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Bushra if MC rises it gives a indication to to rude prod..
IF you see the curve it was not in its minimum cost infact it was rising
 
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