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why is the profit maximising output where marginal cost (MC)= marginal revenue (MR)?

Marginal revenue is the revenue generated by selling the last unit of output. Marginal cost is the cost of producing the last unit of output. Profit is maximised at the output where MC=MR because if less out...
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Answered by Robin S. • Economics tutor
19709 Views

When would you apply the product rule in differentiation and how do you do this?

The product rule is used to differentiate a function when it is in the form y= u(x) v(x). To use the rule you differentiate u(x) and multiply that by v(x), and then add that to the differential of v(x) multi...
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Answered by Robin S. • Maths tutor
4756 Views

To what extent was economic success (1815- 1971) responsible for the unification of Germany?

History questions are never as straight forward as they seem. So it's really important to fully analyse what the question is asking you to talk about. The question may appear at first to just be asking about...
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Answered by Deanna H. • History tutor
4241 Views

What is the difference between ser and estar?

the two verbs ser and estar, in Castilian Spanish both mean "to be" in English. The confusion for non native speakers comes when trying to identify within which contexts you are supposed to use whi...
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Answered by Rhys C. • Spanish tutor
3103 Views

How do I structure a comparative essay?

My preferred way to go about structuring a comparative essay (an essay which asks you to compare aspects from two or more texts) is called the "ping-pong approach", because essentially what you do ...
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Answered by Rhys C. • English tutor
3433 Views