Price-Quantity Determination
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- Synopsis
- Examines the important economic considerations affecting a firm's price-quantity decision for a product. Begins with a discussion of the appropriate decision criterion. Next, it motivates the concept of a demand curve for a product and defines demand elasticity. Marginal analysis is used to establish the following necessary condition for optimal price and quantity: marginal revenue must equal marginal cost. Price-quantity determination in the presence of a resource constraint and competition is also discussed.
- Copyright:
- 1990
Book Details
- Book Quality:
- Publisher Quality
- Publisher:
- Harvard Business Publishing
- Date of Addition:
- 08/03/16
- Copyrighted By:
- HBS
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.