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1 Differentiate between a firm and a market.
2 Graphically illustrate (i.e. draw) and explain the relationship between the market demand curve and the individual firm's demand curve for a perfect competition.
Does the curve represent if the risk is NOT taken and the line connecting two points on the curve represents if the risk IS taken?
large firms charge the price which is higher than the small firms, contruct the diagram
discuss the revealed preference theory of consumer behaviour
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
indiffference curve
what is marginal cost
what do you understand by linear break-even point? in what way is it useful in managerial economics? what are the assumptions underlying the analysis?
At a market price of $21 a toy, what quantity does the firm produce in the short run and does the firm make a positive economic profit, a zero economic profit, or an economic loss?
a) Consider the following flows (in thousand of people) between the various labour market states in a particular month: UE = 240 000; UNLF = 180 000; EU = 190 000; NLFU = 220 000
What is the conditional mean: For every AR(1) model below: a. Do a three-period ahead forecasting using the given initial values and statistics. Write a 95% confidence int
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