'Long run equilibrium position' presentation slideshows

Economics of Input and Product Substitution

Economics of Input and Product Substitution. Chapter 7. Topics of Discussion. Concepts of isoquants and iso-cost line Least-cost use of inputs Long-run expansion of input use Economics of business expansion and contraction Production possibilities frontier

1.33k views • 92 slides

Microeconomic Concepts Related to Price and Growth

555 views • 38 slides

Mr. Weiss

496 views • 33 slides

Revenue Curves, Types of Profits.

Revenue Curves, Types of Profits. Revenue curves of the business. As a business we need to know the most profitable output we can produce. To find out how we can be the most profitable we need to understand more about the relationship between the revenue and cost curves of the business.

847 views • 27 slides

Perfect Competition

Perfect Competition. A2 Economics. Aims and Objectives. Aim: Understand perfectly competitive markets Objectives: Re-call the assumptions of perfectly competitive markets Explain how a perfectly competitive firm decides its output.

405 views • 18 slides

Perfect Competition

Perfect Competition. January 2010. Home Farm is one of many small firms producing lettuces and attempting to maximise profits. Explain the circumstances in which Home Farm might make supernormal profits in the short run, but only normal profits in the long run. (15 marks; 20 minutes max!).

650 views • 15 slides

Competitive Markets

Competitive Markets. Content. Perfect competition Competition and resource allocation Dynamics of competition and competitive market processes. Perfect Competition. Perfectly competitive markets have a large number of firms producing identical products

671 views • 15 slides