MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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... output . To cal- culate marginal cost , we find the change in total cost and divide it by the change in output . For example , when output increases from 4 to 10 sweaters , total cost increases from $ 50 to $ 75 . The change in out- put ...
... output . To cal- culate marginal cost , we find the change in total cost and divide it by the change in output . For example , when output increases from 4 to 10 sweaters , total cost increases from $ 50 to $ 75 . The change in out- put ...
˹éÒ 284
... output . As we have just seen , a perfectly competitive firm's total revenue changes when its output changes . Also , as we dis- covered in Chapter 10 , a firm's total cost varies as its output varies . By changing its inputs and its ...
... output . As we have just seen , a perfectly competitive firm's total revenue changes when its output changes . Also , as we dis- covered in Chapter 10 , a firm's total cost varies as its output varies . By changing its inputs and its ...
˹éÒ 318
... output range over which marginal revenue is positive is also the output range over which demand is elastic - over which the elasticity of demand is greater than 1. The output range over which total revenue decreases when price decreases ...
... output range over which marginal revenue is positive is also the output range over which demand is elastic - over which the elasticity of demand is greater than 1. The output range over which total revenue decreases when price decreases ...
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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