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for each of the following economic theories explain how consumers aim to maximise satisfaction a) marginal utility b) consumer preference c) indifference analysis
PS thanks for the replies so far really helps!
1) what is the significance of opportunity cost to the nation. what is the significance of opportunity cost to a firm wishing to expand. what is the significance of opportunity cost to to a government controlled industry. 2) examples of economic choices made by the government, a large multinational industry and an individual
Please could someone help me find 7 - 10 main meals (healthy ones!) and where they originate from? Need it for a very important platinum project. Thank you
Professor Popkiss is a retired scientist who enjoys, in his spare time, restoring old clocks and watches to their former glory. Now that he is retired from academic life, he is thinking about pursuing his hobby on a more commercial basis by setting up his own shop called ‘Time to Go’ in Milsom Street, Bath. A former colleague, Dr Beaker, carries out some market research on Professor Popkiss’s behalf and estimates the following information:
Average Revenue Number of clocks restored per week Total Costs
0 0 800 60 10 820 60 20 880 60 30 980 60 40 1020 60 50 1200 60 60 1460 60 70 1760 60 80 2220 60 90 3000
From the evidence provided in the table what type of market do you think Professor Popkiss would be entering? Would you enter this market? Explain your reasoning (5 marks).