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If aggregate supply is totally price inelastic an increase in aggregate demand will affect output and not price.
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If the income elasticity of demand is positive this means it is a normal good.
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When marginal product is positive but falling, total output (total product) is falling.
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The marginal revenue curve in monopoly is below the demand curve and converges.
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If revenue equals costs, abnormal profit is made.
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What curve does X represent in this graph?
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Based on the graph below, calculate price elasticity of demand.
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Sunk costs are:
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Jane runs a bicycle courier service in Hamilton. She employs some high school students at $6 per delivery and charges customers $10 per delivery. The business operates on the weekdays only, 50 weeks a year. Rent for the office is $1,500 per month.----------What is the margin of safety percentage if 6,000 deliveries are done during the year?
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Which type of cost is this: Electricity is $500 per month plus$1 per unit
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