'Short run profits' diaporamas de présentation

ECON 100 Tutorial: Week 6

ECON 100 Tutorial: Week 6. www.lancaster.ac.uk/postgrad/alia10/ a.ali11@lancaster.ac.uk office hours: 3:45PM to 4:45PM tuesday LUMS C85. Past exam questions. If an indifference curve is smooth and convex to the origin, then:. The two goods are said to be convex combinations of each other

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Economic Issues and Principles

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Perfect Competition and Monopoly

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Monopolistic Competition

Monopolistic Competition. Characteristics:. Relatively Large Numbers Firms have a small market share No collusion (concerted action by firms to restrict output and price) Firms act independently Product Differentiation. Economic rivalry takes the form of non-price competition:

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Different Types of Market Structures

Different Types of Market Structures. Marginal Product and Marginal Cost. Total Fixed, Total Variable, and Total Costs. Average Fixed, Average Variable and Average Costs. The Perfectly Competitive Firm and Industry in Short-Run Equilibrium. Profit, Loss and Shutdown.

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