Output decision making, Describe why the profits of such

Output decision making

Reference no: EM1367843

Respond to the following:

a. In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets.

b. Cite as many examples as you can of these types of businesses.

c. Explain why the profits of such firms tend to increase when there is an excess supply of the inputs they use in their production process.

Reference no: EM1367843

Questions Cloud

Illustrate what are elements of circular-flow diagram : Illustrate what are elements of Circular-Flow Diagram. Illustrate what concepts does diagram illustrate.

Describe overhead cost discussion : Assume the following was overheard at the water cooler: "I think our medical device company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs."

Behavioral and cognitive learning theories : Describe why behavioral and cognitive learning theories are especially relevant to the curriculum development in nursing.

Characteristics of effective business messages : Describe five characteristics of effective business messages and describe at least three common types of teams companies often create.

Output decision making : Describe why the profits of such firms tend to increase when there is the excess supply of the inputs they employ in their production process.

What frames are in sender-s window range : Then the sender learns of acknowledgment of 0,1,2,5. What frames are in sender's window range just after this event?

Explain health function eventually bend downward : Assume that health production is subject to diminishing returns and that each unit of health care employed entails a constant rate of iatrogenic (medically caused) disease. Would product of health function eventually bend downward

Nursing and health care industry : Describe the significance of maintaining awareness of political actions related to the nursing and health care industry.

Detailed optimization calculations : Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.

User Account

All Pages