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Consider the following statement: To maximise profit, you need to sell your output at the highest price. After what you have learned with regards to costing systems and pricing of products, analyse the validity of this statement. How should marginal costs be considered when determining prices.
The owner-manager of Good Guys Enterprises obtains utility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up the problem and derive th..
Discuss how is it possible to change society, for Marx, through using relationship between economy on the one hand and the political environment on the other.
Which of the following is a characteristic of both monopolistic competition and perfect competition?
Use a graphical illustration to describe briefly what the influence an increase in immigration on the market supply of labor
what is the equation of his budget line?nbsp sketch the budget line and two possible indifference curves that herbert
For this part of the assignment, we will focus on the demand curve. Draw the demand curve for the A-Phone. Explain how the graph, price, and quantity demanded will change if the following occurs.
questions1. given a supply curve for ultrasound clinics predict how the supply curve will shift i.e. increase or
explain the law of demand and law of supply. what factors influence each? what is meant by market equilibrium? give an
mary has variable costs equal to vc y2 f where y is the number of bouquets she sells per month and where f is the
Assume that every citizen of country X has the utility function of u(x, y) = 5x+4y. Say that x denotes cigarettes and y denotes alcohol. The government of country X receives revenue from alcohol and cigarrete purchases but wants to curb alcohol co..
Compute Florence's MRS of all other goods for travel. (In other words, compute her MRS with travel on the horizontal axis.
Question 2. Suppose a worker has 112 hours a week, non-labor income of $150 a week, and a wage rate of $10/hour. Assume the price of consumption goods increases from $1 (implicitly assumed price) to $2. What is the effect of this increase on a..
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