Search results
Results From The WOW.Com Content Network
Multiple Market Price Determination; splitting the demand line where it bends (bend: right; split: left and center) The seller decides what amount of the total output to sell in each market by looking at the intersection of marginal cost with marginal revenue (profit maximization). This output is then divided between the two markets, at the ...
This page compares the properties of several typical utility functions of divisible goods. These functions are commonly used as examples in consumer theory . The functions are ordinal utility functions, which means that their properties are invariant under positive monotone transformation .
Non-market ecosocialism as advocated by Anitra Nelson: as for the nonmonetary aspect, each household "guesstimates" its basic needs, which are met in return for "collective production as a community obligation." The production, distribution, and procurement of goods and services from "more distant communities" are collectively agreed on. [32]
The total surplus of perfect competition market is the highest. And the total surplus of imperfect competition market is lower. In the monopoly market, if the monopoly firm can adopt first-level price discrimination, the consumer surplus is zero and the monopoly firm obtains all the benefits in the market. [15]
Wild fish stocks are a rivalrous good, as the amount of fish caught by one boat reduces the number of fish available to be caught by others. In economics, a good is said to be rivalrous or a rival if its consumption by one consumer prevents simultaneous consumption by other consumers, [1] or if consumption by one party reduces the ability of another party to consume it.
In mainstream economics, economic surplus, also known as total welfare or total social welfare or Marshallian surplus (after Alfred Marshall), is either of two related quantities: Consumer surplus , or consumers' surplus , is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the ...
Even as he's vowed to push the United States ahead in artificial intelligence research, President Donald Trump's threats to alter federal government contracts with chipmakers and slap new tariffs ...
As used in biology, the indifference curve is a model for how animals 'decide' whether to perform a particular behavior, based on changes in two variables which can increase in intensity, one along the x-axis and the other along the y-axis. For example, the x-axis may measure the quantity of food available while the y-axis measures the risk ...