If the firm produces above the profit maximsation level of output, MC>MR - the firms profit is?
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Card 7
Front
Reasons why in practice firms might not operate exactly at the profit max level of output. It is difficult to identify the profit max position, why?
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Card 8
Front
Large profits might attract the attention of whom?
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Card 9
Front
In transport, a particular complication is that in some markets, firms make a loss and rely upon external subsidies from central and local government in order to provide services. This is true for most TOCs as they?
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Card 10
Front
In local bus operation, certain routes or part routes are ?
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Card 11
Front
What is network rail and why is it different to other firms?
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Card 12
Front
What is profit satisficing?
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Card 13
Front
State reasons for this objective
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Card 14
Front
Explain how a firm having close business rivals might be a reason for profit satisficing?
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Card 15
Front
How is road haulage an possible example of profit satisficing
