Today`s topic: Profit!

Hello there, economists! Since we all love money, I thought today I should talk about /profit/ , since it’s the main factor to making money. Here I included a short and fun brochure explaining roughly the meaning of profit : https://pubsecure.lucidpress.com/a0c24cf1-87c6-46e5-8af0-138252494170/ . Enjoy! And also, here it is the PDF file for anyone interested!

Competition under various market structures.

Market structures There are several market structures in which firms can operate. The type of structure influences the firm’s behaviour, whether it is efficient, and the level of profits it can generate. Neo-classical theory of the firm distinguishes a number of market structures, each with its own characteristics and assumptions. The structure of a market refers to the number ofContinue reading “Competition under various market structures.”

Price elasticity of demand.

Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to increase in its price when nothing but the price changes. More precisely, it gives the percentage change in quantity demanded in response to a one percent change in price. PriceContinue reading “Price elasticity of demand.”

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