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A firm will maximize profits by employing the quantity of each input where the marginal does what?
revenue equals the price of each input
What refers to the cost a firm incurs for capital goods?
Interest
What term refers to the cost to the firm incurs for capital goods?
Interest
What motivates the free market?
The idea that someone is able to get economic profit from it (not that economic profit is different to Normal profit). For example, someone is more motivated to clear land for a firm, start a company, create new product etc. if they are the ones making profit as opposed to the government. A free market economy displays self interest without this no one would be motivated to start anything and this will decrease economic growth. Hope this helps
When should a perfectly competitive firm should expand output?
when price>marginal cost
Advantages of owners savings?
Should be available to the firm quickly and no interest should be paid.
A firm will maximize profits by employing the quantity of each input where the marginal does what?
revenue equals the price of each input
What is an Input Market in economics?
is anything that a firm uses to produce a produt
How can I transfer my Partnership firm?
There are restrictions on the transfer of ownership interest in a Partnership firm. A Partner cannot transfer his/her interest in the firm to any person (except to the existing partners) without the unanimous consent of all other partners.
What refers to the cost a firm incurs for capital goods?
Interest
What term refers to the cost a firm incurs for capital goods?
Interest
Which term refers to the cost a firm incurs for capital goods?
interest
What term refers to the cost to the firm incurs for capital goods?
Interest
What is the difference between interest and a dividend?
Interest is a payment on debt (such as bonds or bank notes). A dividend is a distribution of earnings to the owners of a firm.
When a firm's only variable input is labor then what does the slope of the production function measures?
marginal product of labor
Who are skakeholders in a firm?
A stakeholder is defined as any party that has an interest in an enterprise or firm. Generally stakeholders include share holders, employees, customers and suppliers.
