MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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... monopoly output ( QM ) is the gray triangle in Fig . 12.8 ( b ) . The part of the gray triangle above P is the loss of consumer surplus , and the part of the triangle below P is a loss to the producer - a loss of produc- er surplus ...
... monopoly output ( QM ) is the gray triangle in Fig . 12.8 ( b ) . The part of the gray triangle above P is the loss of consumer surplus , and the part of the triangle below P is a loss to the producer - a loss of produc- er surplus ...
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... MONOPOLY profitable than perfect competition , there is an incentive to attempt to create monopoly . The activi- ty of creating monopoly is called rent seeking . The name rent seeking arises from the fact that another name for consumer ...
... MONOPOLY profitable than perfect competition , there is an incentive to attempt to create monopoly . The activi- ty of creating monopoly is called rent seeking . The name rent seeking arises from the fact that another name for consumer ...
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... Monopoly Arises Monopoly arises because of barriers to entry that prevent competition . Barriers to the entry of new firms may be legal or natural . Legal barriers take the form of public franchise , government license , or patent ...
... Monopoly Arises Monopoly arises because of barriers to entry that prevent competition . Barriers to the entry of new firms may be legal or natural . Legal barriers take the form of public franchise , government license , or patent ...
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amount average benefit budget calculate called capital cars CHAPTER choices cloth competitive consumer consumption corn cost curve countries decreases demand curve depends determined dollars economic effect elasticity elasticity of demand equal equilibrium example expected Explain factor falls Figure firms future given graph higher hour household illustrates important income increases individual industry input interest labor less long-run look loss lower marginal cost marginal revenue marginal utility measured million monopoly month opportunity cost output percent percentage person possible preferences problem production profit quantity demanded questions regulation relationship rent result rises scale sell shifts short-run shown shows slope soda sold substitution supply curve sweaters tapes theory things tion total cost trade units utility variable wage wage rate wealth week workers