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How do different portions of the demand curve (elastic range, unit elastic, and inelastic range) affect total revenue? Where is consumer and producer surplus in
- How do different portions of the demand curve (elastic range, unit elastic, and inelastic range) affect total revenue?
- Where is consumer and producer surplus in an oligopoly? Show this graphically
- Does a perfectly competitive firm (NOT MARKET), have consumer and producer surplus? Can it be shown on the graph of the firm?
- Regarding Factor Markets, if the firm only hires workers as inputs, is the wage equal to the Marginal Factor Cost?
- What is the difference between the least cost rule for combining resources and the profit-maximizing rule for combining resources?
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Managerial Economics
Authors: Mark Hirschey
14th edition
9781473709263, 1473709261, 1473717343, 1473717345, 978-1305506381
