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Price Discrimination: occurs when the same product is sold at different prices to different consumers. A monopolist divided his consumers into groups and sells his product at varying prices to them. Price discrimination is applied in order to increase the profits earned. Some consumers are willing to pay more for a commodity. The monopolist recognizes this fact and charges them a higher price. This enables him to earn a greater profit than he would have got by charging a common price.
In the short run, the size of the plant is fixed whereas in the long run a firm can adjust its plant size. One of the choices in the long run will be the short run plant size. That
Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus * Review - Consumer surplus is total benefit or value which consumers rece
I am having a hard time figuring out how to find marginal product.
how do you calculate opportunity cost
what are the various types of cost curves?
Marginal revenue: Marginal revenue is the change in total revenue with respect to a change in quantity sold. That is, it is the change in total revenue that results from the s
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
The prevention of major swings in economic activity can be handled most easily by the: A. Household sector B. business sector C. financial sector D. government sector why?
Why does a price index based on constant weights tend to overstate inflation in periods after the base year when the price of one good is rising quickly compared to other goods?
A city government regulates taxi fares. It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years. At one time vacant taxis wer
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