Do you want BuboFlash to help you learning these things? Or do you want to add or correct something? Click here to log in or create user.



Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
The [...] variable is the amount of the product that consumers are willing and able to buy at each price level.

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
The [...] variable is the amount of the product that consumers are willing and able to buy at each price level.
Answer
?

Tags
#cfa-level-1 #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
The [...] variable is the amount of the product that consumers are willing and able to buy at each price level.
If you want to change selection, open original toplevel document below and click on "Move attachment"

Parent (intermediate) annotation

Open it
The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level.

Original toplevel document

3. ANALYSIS OF REVENUE, COSTS, AND PROFITS
(AR) Marginal Revenue (MR) 0 100 0 — — 1 100 100 100 100 2 100 200 100 100 3 100 300 100 100 4 100 400 100 100 5 100 500 100 100 6 100 600 100 100 7 100 700 100 100 8 100 800 100 100 9 100 900 100 100 10 100 1,000 100 100 <span>The quantity or quantity demanded variable is the amount of the product that consumers are willing and able to buy at each price level. The quantity sold can be affected by the business through such activities as sales promotion, advertising, and competitive positioning of the product that would take place under the market model of imperfect competition. Under perfect competition, however, total quantity in the market is influenced strictly by price, while non-price factors are not important. Once consumer preferences are established in the market, price determines the quantity demanded by buyers. Together, price and quantity constitute the firm’s demand curve, which becomes the basis for calculating the total, average, and marginal revenue. In Exhibit 4, price is the market price as established by the interactions of the market demand and supply factors. Since the firm is a price taker, price is fixed at 100

Summary

statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Details

No repetitions


Discussion

Do you want to join discussion? Click here to log in or create user.