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Mathematically: Profit = TR-TC Maximum profit is when the derivative of the profit function = 0 Differentiating profit: d(TR)/dX - d(TC)/dX = 0 Since the derivatives of TR and TC are MR and MC respectivel...

There are a number of pricing and non pricing a firm may use in order to seize market share, increase its total revenue and hence profits. Some pricing methods involve, a reduction in prices, predatory pr...

This question simply requires knowledge of a definition but can be quite technical and requires the correct terminology. Specifically this is when the overall value of exports is less than the overall val...

When analysing the impact that a trade agreement may have upon an economy there are three key areas that must be assessed, these are imports and exports, migration and trade. It is important to focus on t...

Intro: - Define direct taxation - Define what is meant by growth Concepts to explore: Growth - Implications of tax cuts on consumption levels in the UK - in terms of the propensity to spend, disposable in...