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The Competitive Firm
- Price taker
- Market output (Q) and firm output (q)
- Market demand (D) and firm demand (d)
- R(q) is straight line Demand and Marginal Revenue Faced by Competitive Firm
- The competitive firm's demand
- Profit Maximization
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
The Production Possibilities Frontier (PPF) The PPF curve exhibits the probable combinations of goods and services accessible to an economy, given that all productive resources
what is modern theory
EOQ formula The EOQ equation assumes demand is constant and steady. It also assumes that demand for different items is independent. This is inappropriate for controlling inve
Employee Communication More widely called internal communications, employee communication is must in retaining a happy and productive workforce. Internal communications to e
The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
NETWORK EXTERNALITIES Till this point we have assumed that people's demands for good are independent of each other. Actually, a person's demand can be affected by the number
#limitations of time series analysis
Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.
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