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What is average revenue and average revenue curve
Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
Average Revenue Curve: A curve which plots average revenue. It is equal to the demand curve. The shape of the average revenue curve will depend on the situation the firm is in. If the firm has price setting power then the average revenue curve (demand curve) will be downward-sloping. If the firm is a price-taker then the average revenue curve will be horizontal and the similar as the marginal revenue curve.
Q. Explain about Neoliberalism? Neoliberalism: A modern, harsher incarnation of capitalism that became dominant globally beginning in early 1980s, largely as a reaction to inte
The Cost Minimizing Input Choice - Assumptions Two Inputs: Labor (L) & capital (K) Price of labor: wage rate (w) The capital price - R = depreciation ra
List two advantages of markets identified by the authors of the text. Markets can be a significant way of allocating resources. Markets include voluntary exchanges. Another b
given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total revenue function 2-calculate profit mazimization output for a-perfect competitive firm b-monopoly 3-explain whi
Time Value of Money The time value of money is the price or value placed on time. It is commonly thought of as the opportunity cost related with a particular investment. Money
What are the properties of cost function? Properties of Cost Functions: Some similarities are here with consumer theory. Such similarities are actually exact while one compa
in the keynesian model, the price is assumed to be what?
The U.S. automobile industry, the soft-drink industry, the brewing industry, segments of the fast-food industry, and airplane manufacturers. Oligopoly will usually produce less tha
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