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What is average revenue and average revenue curve
Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
Average Revenue Curve: A curve which plots average revenue. It is equal to the demand curve. The shape of the average revenue curve will depend on the situation the firm is in. If the firm has price setting power then the average revenue curve (demand curve) will be downward-sloping. If the firm is a price-taker then the average revenue curve will be horizontal and the similar as the marginal revenue curve.
What is the classical model's explanation for involuntary unemployment? According to the classical model, involuntary unemployment only increases when there is something impedi
draw the demand curve,when there is rise in the price of a product on the demand of the product
How to calculate: fixed cost is $1,000,000 tvc $4,400,000, avc is $22, atc $27, worker productivity is 4. How do I calculate the profit or loss?
The End of the Malthusian Age We clearly no longer live in a Malthusian age. For at least 200 years improvements in the efficiency of labor made possible by new technologies a
Types of externalities
how is monopoly different from opligopoly
Elasticity of Demand This is a measure of how responsive the sales volume of goods is to changes in that product's price, equal to the marginal change in sales, divided by the
Arbitrage Pricing Theor y Arbitrage defines the procedure of continuously buying a security for privacy, currency, or commodity on one market and selling it in another
what is diffusion and effusion of gases? Describe Graham''s law of diffusion, effusion. Diffusion of gases While during two gases are brought together they mix with each other in
Infrastructure : Infrastructure plays an important role in the development of an economy. The adequacy or lack of it determines an economy's success or failure in increasing p
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