Microeconomicsis the study of how individuals and businesses make choices regarding the best use of limited resources. Its principles can be usefully applied to decision-making in everyday life—for example, when you rent an apartment. Most people, after all, have a limited amount of time and...
How to Invest in Bonds for Maximum Profit shows how you can invest in bonds to maximize your profits, especially when interest rates are high, as they are now. Imagine if you could pick only stocks that would rise the most. Well, as far as I know, there is no sure way to do that...
When a business gets cash, it writes it down as income. When cash is used to pay bills or other debts, it is written down as a liability, read profit loss statement. Small businesses and people who want to keep track of their own money often use this strategy, read profit loss statem...
How can microeconomics best benefit macroeconomics? How do you find the economic surplus? How can I apply the economic principle of "diminishing returns" to daily life? In economics, explain the term "economies of scale". How is efficiency defined in neoclassical economics in the context of heal...
Revenue is the income that a firm or a producer makes by selling its product or services to the customer. Revenue comprises the cost that has been incurred and the profit margin that the producer intended to earn.Answer and Explanation: ...
units of a certain good. This is not necessarily the same as the expected per-unit profit. For example, if a company decides to sell an additional 1,000 bottles of a soft drink, but expects half of them to go unsold, the marginal benefit would be half of the per-unit profit margin....
Another method that will return the profit-maximizing quantity is to find where marginal costs equal marginal revenue. Instead of calculating the profit for each increment, calculate total revenue and total variable costs. Calculate marginal revenue and marginal cost in the same manner as marginal pro...
role for economists is deciding which assumptions to make. It is a challenging task trying to find assumptions that will simplify your question but not significantly reducing the usefulness of your question and theory. In addition, the assumptions depend on the question you are trying to answer. ...
In an equity sale, the homeowner has positive equity in their home. That is, the owner owes less than the home is worth. Upon the sale of the house, the seller will net a profit due to the positive equity. What is Equity? Equity is an important term in real estate. This lesson wil...
What is the best way to apply the indifference curve analysis in economics? What is the significance of the indifference curve in microeconomics? What is the hedonic theory of wage differentials? Discuss the characteristics of a normal- profit isoprofit curve. Combine isoprofit curves wi...