ECON3
WWW.AQUINASECONOMICSA2.CO.UK
@AQUINASECONOMIC
The Objectives of Firms
Answer all the questions below
1. Define the f...
Upcoming SlideShare
Loading in...5
×

The objectives of firms

999

Published on

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
999
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

The objectives of firms

  1. 1. ECON3 WWW.AQUINASECONOMICSA2.CO.UK @AQUINASECONOMIC The Objectives of Firms Answer all the questions below 1. Define the following terms a. Profits b. Total Revenue c. Average Revenue d. Marginal Revenue 2. Explain how you calculate Marginal Revenue 3. Draw an average total revenue and marginal revenue curve for both a perfect market and an imperfect market 4. Explain the traditional theory of the firm 5. Explain the concept of normal profit 6. Explain the term profit maximisation 7. With reference to Super Normal and Sub Normal explain these in relation to Profit

×