Conditions Flashcards by Alex Allen

Q

Profit maximisation

A

MC = MR

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Q

Revenue maximisation

A

MR = 0

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Q

Sales maximisation

A

AC = AR

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Q

Monopoly

A

Profit maximisers
MC = MR

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Q

Perfect competition

A

MC = AR = D = P

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Q

Contestable markets
Limited price

A

Sales maximisation
AR = AC

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