Pure competition and efficiency, Allocative efficiency criteria are satisfi...

Allocative efficiency criteria are satisfied by the competitive model.  Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec

Calculate the mc function and fixed cost, (i). A firm's costs are 500 when ...

(i). A firm's costs are 500 when output is 100. If the TC function is linear and fixed cost (FC) are 200, find the marginal cost when Q = 4, 5 and 6. (ii). The following are est

Optimization, This is the practice of maximizing profits and revenues and m...

This is the practice of maximizing profits and revenues and minimizing costs, using marginal analysis.

Difference between static and dynamic multiplier,

Aspects to promote administrative reforms, Aspects to promote administrativ...

Aspects to promote administrative reforms: Following aspects to promote administrative reforms:  1) A closer focus on results in terms of efficiency and effectiveness, and

Reserve price, Determinants of reserve price

Determinants of reserve price

Explain the concept of opportunity cost, The concept of opportunity cost oc...

The concept of opportunity cost occupies a very important place in modern economic analysis. The opportunity cost of any good is the next best alternative goods that are sacrificed

MRTS & MRS, What is the difference between MRTS & MRS?

What is the difference between MRTS & MRS?

Supply of labour, what is the influence of an increase of migrants on the m...

what is the influence of an increase of migrants on the market supply labour

Explain about oligopolistic market, How might a firm in an oligopolistic ma...

How might a firm in an oligopolistic market attempt to increase market share? Explanation of oligopoly; concentration ratio, producer sovereignty Explanation that oligopolie