Latest Articles
Firm vs industry output under free entry (6/23/2006)
Excessive entry under perfect competition reduces firm profit and firm output.
Excessive entry under perfect competition reduces firm profit and firm output.
From AFC and AVC to TC (6/23/2006)
Average total cost can be derived from adding AFC and AVC together or directly from total cost.
Average total cost can be derived from adding AFC and AVC together or directly from total cost.
Gain from world trade (6/23/2006)
Countries can gain through world trade based on complete specialization.
Countries can gain through world trade based on complete specialization.
Higher output under partial specialization (6/23/2006)
Partial specialization based on comparative advantage leads to higher total output.
Partial specialization based on comparative advantage leads to higher total output.
Profit maximization under single pricing vs price discrimination (6/23/2006)
Output is higher and profit is higher under perfect price discrimination vs single pricing.
Output is higher and profit is higher under perfect price discrimination vs single pricing.
