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A cyclic process is carried out on an ideal gas such that it returns to its initial state at the end of a cycle,as shown in the pV diagram in the figure.If the process is carried out in a clockwise sense around the enclosed area,as shown on the figure,then the change of internal energy over the full cycle
MC > MR
A condition where the marginal cost of producing an additional unit is greater than the marginal revenue earned from selling it, suggesting a decrease in production might increase profit.
Profit
The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
MC = MR
This abbreviation stands for the equality of marginal cost (MC) and marginal revenue (MR), a condition for profit maximization in perfectly competitive markets.
Profit
The profit achieved when the income from business operations surpasses all associated expenses, costs, and taxes.
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