Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
SHORT RUN OUTPUT AND PRICE
In monopolistic competition, it's the product differentiation that permits its price without losing sales.
Due to brand loyalty consumers will continue buying a particular product as preferred to all other brands in spite of increases in the price of that product.
If one firm lowers its price it may capture a few more customers therefore expanding its sales over and above the traditional customers. Besides the product differentiation need not be physical, only the customers need to feel the products are different.
Generally the demand for one seller's product will be price elastic due to close substitutes. If one firm raises its prices, TR will go down. If the price is reduced there are possibilities of substantial increase in revenue because of capturing some customers from rivals.
The level of elasticity will depend on the strength of product differentiation.
Menu Costs Why do firms not change their prices very frequently? Obviously, the costs of changing prices at frequent intervals and in small amounts must be more than the b
Q. Show Normal profit equilibrium? Normal Profits: With the condition of MC = MR and MC cuts the MR from below, if E is the point of stable equilibrium, output of firm is OM
Characteristics of Money Over time, therefore, it became clear that for an item to act as money it must possess the following characteristics. Acceptability If
business decision making concepts of certainity risk unertainity sources of business risk steps invoived in analysiis of risky decisions risk adjustment etc
Drafting of Production Policy: Demand forecasts assists in drafting appropriate production policy so that there may not be any space between future demand and supply of a product.
classification of costs
Occurrence of Stagflation Two possible theoretical explanations can be given for the occurrence of stagflation almost all over the world. The first explanation follows directly
Demand analysis Demand analysis is undertaken to forecast demand, which is a fundamental constituent in managerial decision-making. Demand forecasting is of important because a
examples
encrimetal concepts
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd