Firms and their objectives

Teacher recommended

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  • Created by: Jade
  • Created on: 28-11-12 21:08
J U W W V W Q N T K M N B O V O Q E E W S
V C W K I M X V F F C X A D U B R B H S F
B T L M C O N C S R B T P R J A Y B B Q G
H S C Y A Y E L A T O M N Q H E E L X B M
R K T B D X N C D T W G S S X L W N O U Q
J B B C M L A N A J D Y T P O O O Q A Y M
V W X H E K D L V Q E E A W Q Q L W Y F Y
F A A L W E C W H M K N I L Y G E C R G U
W S J A S O P V V R D T A Q Q I N P R N H
K V V C S E S M A I S F B Q R L D P M Q B
U N J T X R I M N M A E K I O W R R C F Q
E F S D N V R G A G N Y H C E I L H M U V
I H H Y V E O X C M J Y J V Q W Q H E B A
T V C I W U I B T X T A V T K W K F R S K
X B W O T M M X N G V X P M F N H O E L I
I D L P U H I L W T Q K G E N F F C H X V
X R U M W R U U C A P I S B E K F N W L J
M T A S H T B U P I F B S F M V T O M Q B
H Q I I T X X I E P B E J U H W U P R X I
E D P K U S O Y T O F F A D T U D J Q I B
D I R M P B B C G Q D S A X Q W D L O M H

Clues

  • A firm is prepared to accept a _____ market price in order to increase its _______ (5, 6, 5)
  • Firms increase output up to the break even level, where total revenue just covers? (5, 5)
  • If the firm produces above the profit maximsation level of output, MC>MR - the firms profit is? (5, 3, 7)
  • If the firm produces below MC=MR, where MR>MC, how can more profit be made? (2, 9, 6)
  • Where does profit maximisation occur? (5, 4)
  • Where does sales maximsation occur? (4)

Comments

davidsalter

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32 flash cards which give the student the chance to test their understanding of some of the key definitions required in the theory of the firm.

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