Profit maximization.

11. "And they also say that the growth of promising but costly technologies like supercomputers and aircraft have begun to test the classical view of competition among nations, because no more than a few nations might ever establish footholds in industries born of these technologies." How might we interpret this statement in terms of cost curves and revenue curves?

Firm size and competition.

Historically, product markets were dominated by large firms and service markets by small firms. This seems to have reversed itself somewhat in recent years. What factors might have been at work?

Boundaries of firms.

23. How do you expect the boundaries of firms doing business in developing countries to change, as these countries continue to grow and prosper? [hint: how will the demand for specific assets change in these countries?]

Understanding the relationships between profit or loss, quantity supplied, cost and price.

How can I determine the profit or loss when I am only given price?

marginal utility, pricing policy, demander's behavior

1. simple dispensing machines offer opportunites for consumers to take numerous copies for the price of 1 copy. why do consumers usually take only one copy? 2. the price of a seasonal pass to six flags great adventure is not much more than a weekly pass. why is this a reasonable pricing policy? 3. Tim eats only burgers and tacos. in equilibrium, his marginal utility of burgers is 20 and his marginal utility of tacos is 10. The price of burgers is $4. what is the price of a taco? ====