Business
11.11.2020 12:15
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the minutes for a meeting should include the meeting s date and time,, and short,

the minutes for a meeting should include the meeting's date and time,, and short, accurrate descriptions of every issue discussed, decision made, and action planned
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fgaef9877
fgaef9877
4,5(59 marks)

Marginal Revenue Product=150

Marginal Resource Cost= 100

Explanation:

Marginal revenue product (MRP) is the change in total revenue that results from a unit change of some type of variable input.

Marginal Revenue Product= Revenue Change

/Additional Input

Marginal resource cost (MRC) is the change in total cost that results from a unit change of some type of variable input.

Marginal Resource Cost= Cost Change

/Additional Input

In this situation we must calculate the change of revenues (MRP) and cost (MRC) when we add a new vehicle.  

We are increasing our delivery fleet in 1 unit

First calculate the change in total revenue

Total revenue= 1,500 packages * $0.10 in revenue=150

Marginal Revenue Product=$150/1=150

The Cost change is $100,

so Marginal Resource Cost= $100/1=100

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