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SHORT-RUN EQUILIBRIUM
All firms are assumed to aim at maximizing profits or minimizing losses. The monopolist controls his output or price, but not both.
The monopoly maximizes profits where: MR = MC (the necessary condition of profit maximisation)
He cannot produce at less than Qo because MR will be greater than MC. The monopolist will determine his output at Q Xo and set the price at Po and his total Revenue is OQo X OPo and the to total cost will be OCo X bQo and abnormal profits Po CO AB
Consider an industry with a sole producer, a monopolist. The latter faces cost function C(Q)= Q/2 and aggregate (inverse) demand P(Q)=1 - Q (zero for Q> 1). Illustrate all your ans
Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..
Real Rigidities in the Labour Market New Keynesian theories of the labour market help in explaining the existence of involuntary unemployment. The theories also attempt to
Point and arc elasticity of demand The elasticity of demand is conventionally measured either at a finite point or between any two finite points, on demand curve. The elasticit
What is the theory of the firm A firm can be considered an amalgamation of people, financial and physical resources and a variety of information. Firms exist as they perform us
Write on one theory of profit. Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is t
is indian companies running a risk by not giving attention to cost cutting?
THE KEYNESIAN THEORY OF CONSUMPTION FUNCTION The theory was developed during the Great Depression which plagued Europe and America. During this time, there was excess capacit
QUESTION 1 Negotiating skills remain a critical capability for procurement practitioners. Skilled negotiators have the potential to improve the negotiating outcome. Procurers o
a) A reduce in supply and an enhance in demand will cause the equilibrium: b) Which of the following is most likely to cause a reduce in the present demand for some product X
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