Solution: Determine the target capital structure After analysis and research, it is found that the company's current capital structure is the optimal capital structure, that is, the proportion of bonds is 20%, the proportion of preferred shares is 65,438+00%, the proportion of common shares is 50%, and the proportion of retained earnings is 20%.
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1. Marginal cost Marginal cost, abbreviated as MC or MPC, is the increment of the total cost per unit of newly produced products (or purchased products). The calculation formula of marginal cost is MC (q) = △ TC (q)/△ Q)/△ Q. Generally speaking, with the increase of output, the total cost decreases and the marginal cost decreases, which means scale effect.
Second, introduction
Theoretically, marginal cost refers to the increase of total cost when output increases 1 unit (this total cost includes constant cost and variable cost).
With the increase of output, the marginal cost will first decrease and then increase.
When the output is small, it can be understood that the equipment of the enterprise is not fully utilized, so the output is small. As enterprises hire more employees for production, the utilization rate of production equipment begins to increase. Suppose the first worker's contribution to output is 10, the second worker's contribution to output may be 15 or even higher, and the third worker will be 30.
This corresponds to the first step of the production function curve, that is, the marginal product increases at an increasing rate with the increase of input (that is, the growth rate is not constant but increasing, as can be seen from the slope of the production function, the greater the slope, the greater the growth rate). At this stage, the growth rate of output exceeds the growth rate of cost, so the marginal cost decreases with the increase of output;
As the number of employees increases to a certain extent, enterprises become crowded. At this time, with each additional employee, the utilization rate of production equipment will still increase, but this improvement will slow down (we call it life slowdown), and the slope of the production function will gradually decrease from the maximum value in the first step to zero. When the number of employees increases to a certain extent, if one employee is added, the contribution of the employee to the output will be zero, that is, the marginal product will be zero. At this stage, the growth rate of output will gradually drop from the maximum to zero, while the growth rate of cost (the cost of each employee plus the cost of each unit product) is greater than the growth rate of output, thus increasing the marginal cost.