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In theory, a monopoly is a situation in which the ‘industry is the firm’ however in reality in the UK we consider anything which controls 25% or more of the market to have monopoly power and the Competition ...

Income can be defined as a flow of factor incomes, such as earnings, dividends and rent. Alternatively, wealth is a stock of financial and real assets including savings, deposits and property. Inequalities i...

Integration by parts formula: ∫ u dv/dx = uv - ∫ du/dx v dx To solve this problem we need to use a trick by thinking of lnx as lnx 1 So we can choose: u=lnx, dv/dx=1 The next step is to find du/dx and v. du/...

So you are asked to find the inverse of a function f(x). The inverse function is denoted by f -1 (x). To help with this we can use the identity f(f -1 (x))=x. Now, we need to define y=f -1 (x). Example: f(x)...

An arithmetic sequence has a constant difference between each term. For example: 2,4,6,8,10,12,… We can see clearly that all the terms differ by +2. We call this the common difference, d. A geometric sequenc...