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In the country of Sleep-well, the inhabitants' main activity is... sleeping. Despite the loss of productivity that this entails, the country has a profuse and renowned production of blankets,mattresses, bed covers, and the like. Particularly, the market for pillows is Sleep-well's flagship;the market is perfectly competitive and has ? firms present, all of which have the similar cost function. The aggregate manufacture is 8,000 super-comfort pillows /day.
Question: Given that the newly merged firm is maximizing its profit, what will be the price of a super-comfort pillow?
Ingrid and Jeff would like to use Saturday night together but have dissimilar tastes in entertainment. Jeff would like to go to the opera but Ingrid would prefer to see soccer. As
Discuss the determinants of price elasticity of demand
firms both in monopolistic and perfect competition tend to make normal profits but why do they criticize only monopolistic competition
A risk-neutral agent's working life has two periods. In each period, the agent can provide high effort (at personal cost $2,000) or low effort (at zero personal cost). In a given p
break event point
Marginal utility approach The downward sloping nature of the demand curve can be explained by using the law of diminishing marginal utility . For instance, consider a consum
MEANING OF MANAGERIAL ECONOMICS Managerial economics which is used synonymously with business economics is a branch of economics which deals with application of microeconomic ana
Q. Explain Mark-up pricing? In addition to using above methods to conclude a firm's optimal level of output, a firm can also set price to maximise profit. Optimal markup rules
Advantages a. It is more equitable. The broader shoulders are asked to carry the heavier burden. b. It satisfies the canon of productivity as it yields
define scarcity and opportunity cost.Show how these concept are useful in managerial decision making
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