Monopoly and Profit Maximization • The monopolist maximizes profit by equating marginal revenue with marginal cost • This is a two-stage process $/unit Stage 1: Choose output where MR = MC PM Profit ACM MR QM QC This gives output QM Output by the monopolist isStage 2: Identify the market clearing price less MC than the perfectly gives price PM This competitive output QC AC MR is less than price Price is greater than MC: loss of efficiency Price is greater than average cost Demand Positive
Premium Supply and demand Microeconomics Inverse demand function
Biology Year 11 Yearly Notes Chapter One – A local ecosystem 1.1 Terrestrial and Aquatic Environments -Ecosystem: any environment containing living organisms interacting with each other and with the non-living parts of that environment. -Environment: the environment of an organism is its surroundings‚ both living and non-living -Habitat: the habitat of an organism is the place where it lives. Australian Environments * Terrestrial environments are environments on land. Land covers about
Premium Balance sheet Inventory Revenue
Chapters 1 and 2 Notes Chapter 1 Living with Art Megaliths are large stones that are surrounded by a circular ditch. The monument is presumably the marking of graveyard and once was accompanied by other monuments. The Neolithic era is known for the uses of new tools and constructive materials such as hardening clays using a flame. Pottery was used to create bowls‚ food jars‚ cups‚ and a variance of other objects. Each culture characterizes art in its own way. Artists perform tasks such as create
Premium Modernism Abstract expressionism Art
AEB2451 EXAM 1 Lecture Notes 08/25/11 I. What is Economics A. A social science; a study of decision making by agents B. Goal? Understand what motivates particular decisions C. Purpose? Allows to anticipate future behavior for planning and policy a. Use agent’s incentives to achieve social goals‚ which may mean implementing policies II. What is “Natural Resource Economics”? A. The study of agent decisions concerning natural resources B. What are natural resources? a. “Goods and services”
Premium Supply and demand Externality Economics
LIFE ON EARTH REVISION Analysis of the oldest sedimentary rocks provides evidence for the origin of life. - Identify the relationship between the conditions on early Earth and the origin of organic molecules. - Formation of the organic molecule was the first event in the evolution of life. - The molecules provided a building block for cell formation and the food for the earliest life. - Present day life’s atmosphere contains: - Oxygen - Water - Carbon
Premium Bacteria Organism Cell
italics. Section 1: The nature and variety of living organisms Characteristics of living organisms include; M ovement R espitation S ensitivity G rowth R eproduction E xcretion N utrition In addition‚ all living organisms contain nucleic acids (DNA) and have the ability to control their internal conditions. Finally‚ all living organisms can die. Living organisms are classified into 5 groups‚ each of which has certain characteristics you need to learn Plants: 1. Multicellular
Premium Cell Blood Bacteria
their expenses so management are fully informed of the cost involved in running each service or retail store. They will even have information about the individual products they sell through internal reporting and cost profit sales analysis. In this lecture we will examine the communication of financial information in the Income Statement through to the Balance Sheet. Learning objectives At the end of this topic‚ you should be able to: • Understand the terms‚ format and function of the Balance
Premium Balance sheet Generally Accepted Accounting Principles Asset
LECTURE 2 Debt exists of one of two broad types of claims on a business‚ Equity and Debt. That is ownership claims (or the right to any and all residual asset value after all prior claims are met) and prior ranking claims known as debt. Equity is typically a form of permanent capital in the capital framework of a company while debt is typically nonpermanent with a variety of forms. This course focuses on Dept with special emphasis on the Debt Capital Markets. A debt instrument is a document
Premium Financial markets Debt Bond
Tort Law Lecture 1 Pre-lecture Lecture Preparation: Do the assigned readings before the lecture get most out of the lecture Know extracts of case know what happen Terminologies and definition Read ‘lecture outlines’ for reading assignments Review notes from previous lecture 5-10 minutes before lecture Read learning outcomes to understand lecture objectives Readings and lectures don’t perfectly overlap‚ do both Bring the book to each class For instructions on marking your book see
Premium Tort Common law Law
Year 9 Biology Notes Keeping Healthy Test * Metabolic Rate- How quickly the chemical reactions (metabolism) are taking place within cells * In a balanced diet‚ you need- -Carbohydrates to build cells and to release energy. -Minerals and Vitamins in small amounts to keep the body functioning. -Water because we lose 70% form sweat‚ breath‚ tears‚ urine‚ faeces etc. -Fibre to prevent constipation and bowel cancer. * Malnutrition- eating a diet which is not balanced which can lead
Premium Bacteria DNA Gene