Author: Adden wafa

A. there are many EU and government health controls on cosmetic products
B. there are a very large number of firms in the industry
C. firms spend a large amount of money on advertising
D. profit margins are very high for both producers and retailers

A. no longer influences the amount demand of the firm’s product
B. becomes a decision variable for the firm
C. is guaranteed to be above a firm’s average cost.
D. is determined by the actions of other firms in the industry

A. a firm’s ability to monopolies a market completely.
B. a firm’s ability to raise price without losing all demand for its product
C. a firm’s ability to sell any amount of output it desires at the market-determined price.
D. a firm’s ability to charge any price it likes

A. fixed costs exceed revenues.
B. it is suffering a loss.
C. variable costs exceed revenues
D. total costs exceed revenues

A. £35
B. £15
C. £30
D. £60

A. DTVC/Dq
B. q/TVC
C. Dq/DTVC
D. TVC/q

A. expenditure set
B. isocost line.
C. budget constraint
D. isoquant

A. an indifference curves.
B. an isoquant.
C. an isocost line
D. a production functions

A. downward sloping to the right
B. U-shaped
C. Horizontal
D. upward sloping to the right

A. 160; 270
B. 10; 30
C. 10; 3.33
D. 30; 10