Profit to me is a cost to you
Youshouldbeableto: Youshouldbeableto: 1. EXPLAINthedifferencebetween categoriesofeconomiccosts.
2. 3. 4.
DistinguishbetweenQuasi&Pure Rents. Namefactorsthatdeterminecosts. PlotIMFlashCostCurvesonE
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Final Exam Review
OOwners often delegateArchitecture rganizational decision rights to
managers due to a lack of information. Because they do not own the company resources, they do not have as much of
Exam 2 Review
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CONDITIONS of DEMAND CONDITIONS of ENTRY
Demand Curve is Horizontal nSuppliershaveclosesubstitutes OPEN
nNoDifferentiation nGenericAssets nNoEconomiesofS
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People use marginal analysis when making decisions
Everything is assigned a benefit/cost. If the benefits outweigh the costs, people usually go forward with the decision.
Average variable costs column AVC Average economic rent AER AVC, AFC, AER Given diff numbers and be asked questions about the I M f lash stuff. Essay questions: Fish I M f lash Essay bank Apple case
1. Why might variable pricing increase revenue? 1No subs