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How does a firm's marginal cost and average cost relate to each other? (Microeconomics)

Average costs represent the total cost of a firm divided by the total number of units produced, and Marginal cost meanwhile represents the extra costs incurred by a firm of producing an additional unit of ou...
MB
Answered by Manel B. • Economics tutor
4314 Views

Discuss whether than price discrimination is always beneficial

In intro show own knowledge and definitions of key terms. Build up case for argument. Then focus on consumers (how some gain, some lose, overall lose as producers make more profit), how producers gain & ...
TM
Answered by Tobias M. • Economics tutor
2507 Views

'What are the disadvantages of economic growth?'

Inflationary pressure: A side effect of economic growth is inflation, this is due to an increase in AD from AD1 to AD2 (diagram drawn) increasing price level from P1 to P2. Inflationary pressure increases th...
NM
Answered by Naim M. • Economics tutor
11783 Views

Explain how the energy companies have exploited their market power.

Start by outlining the type of environment in which energy companies operate in the UK. 1. The market structure is an oligoly. Each firm has a certain amount of market power it is able to exploit. Collusion ...
SH
Answered by Samuel H. • Economics tutor
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Explain the potential impacts on the global economy of sustained trade imbalances (25 marks)

(1) Point: Less global trade Example: US had a trade deficit of $460bn in 2017 meaning more imports than exports, leads to protectionism (such as 35% tariff on Chinese tyres in 2010). Analysis: Reduces trade...
BG
Answered by Ben G. • Economics tutor
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