MGCR 293 Chapter Notes -Substitute Good, Economic Equilibrium, Demand Curve

Theory of the firm: a firm"s objective is to maximize it"s wealth, which is the present value of its future profits. Three fertile profit-generating ar

MGCR 293 Chapter Notes - Chapter 9: Deadweight Loss, Reservation Price, Price Discrimination

In this chapter we will show how some complications such as multiple plants, multiple markets and multiple products affect the pro t maximization condi

MGCR 293 Chapter Notes - Chapter 7: Reservation Price, Variable Cost, Economic Surplus

Nature, price and output decision strongly in uenced by the market structure. Market structure determined wether a manager will be price taker or price

MGCR 293 Chapter Notes - Chapter 8: Product Differentiation, Monopoly Price, Market Power

Understand the behaviour of rm with market power (=ability of a rm to raise price without losing all its sales. Market power pc rms which face a market

MGCR 293 Chapter Notes - Chapter 6: Root Mean Square, Hyperbola, Average Variable Cost

All business decision require a comparison between costs and bene ts. Manager undertake a decision if: marginal revenue > marginal cost. Both long term

MGCR 293 Chapter Notes - Chapter 5: Isoquant, Root Mean Square, Isocost

Ef ciency requires an understanding of the production process: scare ressources input, good and services output. The production function speci es the r

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