What is the revenue of a firm
Revenue of a firm: It is the sale or money receipts from the sale of product.
In equilibrium for any of profit-maximizing firm, marginal revenue product of the labor: (i) Is equivalent to the change in net revenue related with selling an extra unit of output. (ii) Surpasses the wage rate by maximum possible. (iii) Equivalents marginal factor co
I have a problem in economics on Law of equal marginal advantage to consumer behavior. Please help me in the following question. Pertaining the law of equal marginal benefits to consumer behavior outcomes the principle of: (i) Diminishing the marginal utility. (ii) Ov
The consequences of price controls would be least discernible for a price ceiling set: (1) above the price equilibrium. (2) below the price equilibrium. (3) in a region of diminishing returns. (4) unfavorable to market companies. (5)
Suppose a monopolist has zero marginal cost and faces the following demand curve D(p) = 10 - 2p (a) Graph the demand curve, the marginal revenue curve, and the rm's margin
Economists have conventionally concluded which, from the vantage point of society as an entire, competitive advertising in that case: (1) enables consumers to make more efficient economic choices. (2) is a waste of resources. (3) cons
An illustration of distribution of income in accord along with the contribution standard occurs while: (1) the federal government relies on a very progressive income tax for most of its revenue. (2) production is produced, “from each, according
Oligopolies cannot: (w) maximize where MR = MC. (x) differentiate their product. (y) act independently of other firms. (z) make economic profits within the long run. Can someone explain/help me with best solution a
When all production costs for a monopoly are fixed [MC =0], in that case economic profit: (i) falls when price is raised in the inelastic range of a demand curve. (ii) rises when price is cut in the inelastic range of
I have a problem in economics on Substitution problem on consumption. Please help me in the following question. Teddy forever eats peanut butter and jelly sandwiches for lunch as he should live on $20 dollars a week. Jelly jumped in price and, to plea
Price discrimination which successfully increases profit does NOT needs the firm to be capable to: (1) separate the market within different groups along with different demand elasticities. (2) maintain entry barriers which defend a firm’s market
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