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Total Cost (TC) This is the sum of fixed costs and variable costs i.e. TC = FC + VC.
Peanut butter monopolist Calvé supplies peanut butter to Albert Heijn in an isolated village. The supermarket is a monopolist in the village. Demand for peanut butter is given by:
Income and Substitution Effects of Price Change When the price of a commodity falls the consumer's equilibrium changes. The consumer can purchase the same quantity of X and Y
features of monopoly?
We can analyse the equilibrium of a firm under Perfect Competition in both the long run as well as in the short-run. SHORT RUN EQUILIBRIUM OF A FIRM UNDER PERFECT COMPETITION
Optimum combination of resources The firm can maximise output given costs. That is when the entrepreneur attains the highest isoquant given a particular Isocost. At t
demand function is q=4850 - 5p(1) + 1.5p(2) + 0.1 Y WHEN Y=10000 p(1)=200 p(2)= 100 find income elasticity of demand for p(1)
Write the forecasting techniques There are many forecasting techniques available to person assisting the business in planning its sales. Take for instance a forecasting metho
Problem 1: You are the manager of a reputed five star hotel in Mauritius and you have been asked by the director of the hotel to advise on possible pricing strategies to increa
what is the definition
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