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Q. Example on Changes in fixed costs and profit maximisation?
What if arena owner in the illustration above triples the fee for the subsequent concert but all other factors are the same. What price must the promoter now charge for tickets in light of the fee increase?
The same price of Rs. 10
Fee is a fixed cost, which promoter should consider a sunk cost and simply ignore it in calculating his profit maximising price. Only effect is that promoter's profit will be reduced by Rs. 20, 000.
Q. Show the Isoquant touching axis? Isoquants do not intersect: By definition isoquants such as indifference curves, can never cut each other. If they cut each other it will
when firm can achieve optimization
Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
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Why do the managers in marris model maximise their satisfaction by choosing a higher growth rate and a lower valuation ratio when compared to the profit maximisation
Factors determining Elasticity of demand Ease of substitution. Nature of the commodity i.e. whether it is a necessity of life, luxury or addictive. Consumers
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Q. Define the Natural Monopoly? Natural Monopoly: Natural monopoly is because of natural factors. For illustration, a particular raw material is concentrated at a specific pl
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