These are all short answer questions. No specific format.
1. Demand vs. Marginal Revenue: A market with a single seller is referred to as a monopoly and the single seller would be referred to as a monopolist. Since a monopolist makes up the entire market, the monopolist can review the overall market demand and pick the price and quantity combination on the market demand curve that maximizes overall profits. If the market demand curve is negatively sloped (as we generally expect it to be) then if the monopolist wants to increase the quantity sold, this can only be achieved by accommodating the buyers by lowering the price (i.e., by moving down along the demand curve). Any firm facing a downward sloping demand curve is known as an imperfect competitor (or as an imperfectly competitive firm). Imperfectly competitive firms (such as monopolists, monopolistic competitors and oligopolists) all face downward sloping demand curves. This means that the marginal revenue (MR, the extra revenue from selling one more unit) is smaller than the price (P) of the last unit sold by the firm. The reason MR < P for a firm with a downward sloping demand is that the firm must cut its price on all the units it sells in order to sell an extra unit of output. Having a clear understanding of how this works is critical for understanding how imperfectly competitive firms operate.
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Our essay writers are graduates with diplomas, bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH 24/7 ESSAY WRITERS TODAY AND GET AN AMAZING DISCOUNT
PLACE THIS ORDER OR A SIMILAR ORDER WITH ORDER YOUR ESSAY TODAY AND GET AN AMAZING DISCOUNT