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Q. Explain Maximising revenue method?
In a number of cases, a firm's demand and cost conditions are such that marginal profits are greater than zero for all levels of production. In this case, Mπ = 0 rule has to be modified and the firm must maximise revenue. Or we can say the profit maximising quantity and price can be concluded by setting marginal revenue equal to zero. Marginal revenue equals zero when marginal revenue curve has reached its maximum value. An illustration would be a scheduled airline flight. Marginal costs of flying the route are negligible. Airline would maximise profits by filling all the seats. Airline would determine the p-max conditions by maximising revenues.
marris'' model of managerial enterprise?
Suppose that the government is the only provider of water. The market demand function reads D: Q(P) = 50 - 2P. The government''s total cost for producing water are described as fol
Basic textbook models, such as the Mundell-Fleming model, say that capital inflow happens due to the domestic interest rate being higher than the world interest rate, and therefore
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williamson''s model describe
on the application of any of the concepts learnt in Managerial Economics. You may try to use these concepts to everyday problems in life or in any of the current debates on in the
A complementary facility for commodity-related shortfalls in export earnings This is the most recent proposal of the Group of 77 at UNCTAD in June 1979. There they requested
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