Answer to Question #185463 in Microeconomics for ken

Question

For the following industries, identify factors used in those industries that in the short run are (i) fixed; (ii) variable. a. Spanish La liga b. Michelin star restaurant. 3. Distinguish between an inferior good and a Giffen good. This can be done intuitively or graphically using indifference curves. 4. Indicate what the profit maximizing condition is for? a. A Perfect competitive firm b. A Monopolist c. Show graphically the profit maximizing condition in part a, and b. d. Explain intuitively the profit maximizing condition in part a, and b.

Answer 1

Dear ken, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order