Ads block
Perfect Competition Vs Monopoly in terms for Prices and Output for Consumers
Perfect Competition: In a perfect competition, there are a large number of producers as well as buyers. Nobody controls the price of the products and most com…
Read more »
Advantages and Disadvantages of Perfect Competition
Advantages of Perfect Competition 1. They allocate resources in the most efficient way- both productively (P=MC) and allocatively efficient (P> MC) in th…
Read more »
Short Run Profit Maximisation in Perfect Competition
A perfectly competitive firm will choose to produce an output where 1. MC = MR = P 2. MC curve cuts MR from below. Mc Curve below MR means at such points Ma…
Read more »
Characteristics of Perfect Competition Market
Perfect Competition Market Perfect competition market is market in which there are a large number of buyers and sellers, buying and selling the homogenous pro…
Read more »
Market Structure
Introduction: This topic discusses all the theories about different markets. Different markets will make different decisions on the determination of quantitie…
Read more »
Concepts of Revenue
Concepts of Revenue: 1. Revenue 2. Total Revenue 3. Average Revenue 4. Marginal Revenue 5. Profit 1. Revenue: Revenue means the sale receipt of the quan…
Read more »
Relationship between Marginal Cost (MC) and Average Cost (AC)
Average Total Cost is the sum of average variable cost and average fixed cost. or we can say, average cost is equal to the total cost divided by the number of…
Read more »
All Types of Costs in Economics with Examples
There are several costs that a firm should consider under relevant circumstances. It is quite essential for a firm to understand the difference between various…
Read more »
Production Cost in Short & Long Run
Introduction: In microeconomics, the long run is the conceptual time period in which there are no fixed factors of production as to changing the output level …
Read more »
Meaning and Definition of Production
Introduction: Production involves the use of production factors in producing the most effective level. In addition, manufacturers also need to use the correct…
Read more »
