Spoiler
Scroll to see replies
1.
Consider a firm that operates in a competitive market. The market price isp and the output quantity produced by the firm is q. Use diagrams toillustrate your arguments.
(a) Suppose that the firm’s marginal costs MC(q) increase in q and thatthe firm’s profit is positive if it produces the output quantity q that satisfiesp=MC(q). Explain why the output quantity that satisfies p=MC(q)maximizes the firm’s profit.
1.
Consider a firm that operates in a competitive market. The market price isp and the output quantity produced by the firm is q. Use diagrams toillustrate your arguments.
(a) Suppose that the firm’s marginal costs MC(q) increase in q and thatthe firm’s profit is positive if it produces the output quantity q that satisfiesp=MC(q). Explain why the output quantity that satisfies p=MC(q)maximizes the firm’s profit.
Last reply 16 hours ago
AQA A Level Economics Paper 2 (7136/2) - 20th May 2024 [Exam Chat]Last reply 16 hours ago
AQA A Level Economics Paper 1 (7136/1) - 15th May 2024 [Exam Chat]Last reply 1 day ago
Edexcel A Level Economics A Paper 1 (9ECO 01) - 15th May 2024 [Exam Chat]Last reply 1 week ago
Edexcel A Level Economics A Paper 2 (9ECO 02) - 20th May 2024 [Exam Chat]Last reply 3 weeks ago
OCR A Level Economics Paper 3 (H460/03) - 5th June 2023 [Exam Chat]Last reply 1 month ago
WJEC A Level Economics Paper 2 (1520U40-1) - 7th June 2024 [Exam Chat]Posted 1 month ago
OCR A Level Economics Paper 2 Macroeconomics (H460/02) - 20th May 2024 [Exam Chat]Posted 1 month ago
OCR A Level Economics Paper 3 (H460/03) - 7th June 2024 [Exam Chat]Posted 1 month ago
AQA A Level Economics Paper 3 (7136/3) - 7th June 2024 [Exam Chat]Last reply 4 months ago
Edexcel A Level Economics A Paper 2 (9ECO 02) Unofficial MarkschemeLast reply 6 months ago
OCR A Level Economics Paper 1 Microeconomics (H460/01) - 18th May 2023 [Exam Chat]Last reply 10 months ago
What was the 25 marker on international competitiveness again?Last reply 16 hours ago
AQA A Level Economics Paper 2 (7136/2) - 20th May 2024 [Exam Chat]Last reply 16 hours ago
AQA A Level Economics Paper 1 (7136/1) - 15th May 2024 [Exam Chat]Last reply 1 day ago
Edexcel A Level Economics A Paper 1 (9ECO 01) - 15th May 2024 [Exam Chat]Last reply 1 week ago
Edexcel A Level Economics A Paper 2 (9ECO 02) - 20th May 2024 [Exam Chat]Last reply 3 weeks ago
OCR A Level Economics Paper 3 (H460/03) - 5th June 2023 [Exam Chat]Last reply 1 month ago
WJEC A Level Economics Paper 2 (1520U40-1) - 7th June 2024 [Exam Chat]Posted 1 month ago
OCR A Level Economics Paper 2 Macroeconomics (H460/02) - 20th May 2024 [Exam Chat]Posted 1 month ago
OCR A Level Economics Paper 3 (H460/03) - 7th June 2024 [Exam Chat]Posted 1 month ago
AQA A Level Economics Paper 3 (7136/3) - 7th June 2024 [Exam Chat]Last reply 4 months ago
Edexcel A Level Economics A Paper 2 (9ECO 02) Unofficial MarkschemeLast reply 6 months ago
OCR A Level Economics Paper 1 Microeconomics (H460/01) - 18th May 2023 [Exam Chat]Last reply 10 months ago
What was the 25 marker on international competitiveness again?