profits, Microeconomics

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explain normal profits

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describe the relationship of the demand curve , The definition of a price ...

The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down

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if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.

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The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. It originated from countries with highly sophisticated fin

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Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to

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why does gap between the ATC curve and the AVC curve decreases as the level of output increases

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Market equilibrium happens where supply equals demand (supply curve intersects demand curve).   An equilibrium implies that there is no force that will cause further changes in pri

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When the curve that envelops the sweries of possible short-run average total cost curves is horizontal, this means that they are a. economies of scale, b. dieconomies of scale, co

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