When Marginal Revenue is greater than Marginal Cost you should produce _________ output to maximize profit.

When Marginal Revenue is greater than Marginal Cost you should produce _________ output to maximize profit. When Marginal Revenue is less than Marginal Cost you should produce _______ output to maximize profit.

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When marginal revenue is greater than marginal cost you should produce more output to maximise profit. When marginal revenue is less than marginal cost you should produce less output to maximise profit. As we know when marginal revenue is greater than marginal cost it means producing the extra unit is bringing more revenue and the cost of producing that unit is less than the revenue generated by that unit, on the other hand,when marginal revenue is less than the marginal cost it means producing the extra unit is not profitable as the cost of producing that unit is greater than the revenue generated by that unit.

Rahul Sunny answered 1 year ago

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