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l1 15 demand and supply analysis: the firm

This class was created by Brainscape user Steven Popovic. Visit their profile to learn more about the creator.

By: Steven Popovic
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Decks in this class (16)

Practice
No deck description has yet been added by the author.
9  cards
A
Calculate, interpret and compare accounting profit, economy profit, normal profit, and economic rent **The ultimate goal of analyzing the different types of profit is to determine how their relationships to one another influence the firm’s market value of equity**
10  cards
B
Calculate and interpret and compare total, average, and marginal revenue
9  cards
C Describe a Firms Factors of Production
No deck description has yet been added by the author.
18  cards
D Calc and Interp total, average, marginal, fixed, and variable costs
No deck description has yet been added by the author.
21  cards
E Determine and Describe Breakeven and Shutdown Points of Production
No deck description has yet been added by the author.
5  cards
F Describe approaches to determining the profit-max level of output
No deck description has yet been added by the author.
3  cards
15 G Describe how Economies of Scale and Diseconomies of scale affect costs
No deck description has yet been added by the author.
2  cards
H Distinguish between SR and LR profit max
No deck description has yet been added by the author.
1  cards
I Distinguish among decreasing-cost, constant-cost, and increasing cost industries and describe the long-run supply of each
No deck description has yet been added by the author.
6  cards
J Calculate and Interpret total, marginal, and average product of labor
No deck description has yet been added by the author.
4  cards
K,L Describe the phenomenon of DMR and calc and interp profit-max utilization level of an input and optimal cost min combo
No deck description has yet been added by the author.
3  cards
a calculate, interpret, and compare accounting profit, economic profit, normal profit, and economic rent;
No deck description has yet been added by the author.
0  cards
b calculate and interpret and compare total, average, and marginal revenue;
No deck description has yet been added by the author.
0  cards
c describe a firm’s factors of production;
No deck description has yet been added by the author.
0  cards
l determine the optimal combination of resources that minimizes cost.
No deck description has yet been added by the author.
0  cards

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l1 15 demand and supply analysis: the firm

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