Give an example from your own business-related experience of a situation in which a marginal analysis...
Give an example from your own business-related experience of a situation in which a marginal analysis could be conducted. Explain how you would find and recommend the optimal level of activity for the situation.
Homework Answers
Consider my restaurant business where I actually get to sell Donuts where with the labour the marginal cost level actually gets to decrease to a certain extent and then after maximum utilisation of labor, then we have to hire more as a result of which the marginal cost increases and similarly the price of the donut is constant as a result of which marginal revenue is constant and in this regard, according to marginal analysis, I would actually get to produce in such a way that the marginal revenue is equal to that of the marginal cost and here, maximum profit conditon is achieved as a result of which this would be the optimal quantity
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