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a) Collect costs, revenue data, or other data from the industry that you deem relevant. Describe how you would modify the data in order to make it relevant to decisions a manager must make.
b) Describe the major factors that affect the degree of competitiveness in your industry. Use the data to develop at least three (3) measures (e.g., productivity measures) to show how the industry is evolving.
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Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
Question 1 Identify the basic postulates of economics Question 2 Discuss the role of price mechanism Question 3 Explain the shape and application of Engel curve
explain abnormal profits and normal profits
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