When marginal profit turns negative, producing more output will decrease total profits. Total profit is maximized where marginal revenue equals marginal cost. In this example, maximum profit occurs at 4 units of output.
Answer:
road transport offer door to door service while rail transport can't offer
Explanation:
here are some research topics for economics::
1. The effect of income changes on consumer choices
2. The effect of labor force participation on the economy and budget – A comparison
3. The impact of marital status on the labor force composition: A case of [your country] economy
4. The difference in the consumption attitude in [your country] over the last decade – Critical analysis of consumer behavior trends
5. The relationship between salary levels and ‘economic convergence’ in [your country]?
6. Analyzing salary inequalities in [your country] and the forces behind such inequalities.
7. The evolution of consumption in [your country] over the last 10 years: Trends and consumer behavior.
8. Dynamics of the Gini index as a reflection of the problem of inequality in income
9. Cashless economy: The impact of demonetization on small and medium businesses
10 Privatization of Public Enterprises and its implications on economic policy and development
"An Inquiry into the Nature and Causes of the Wealth of Nations", or "The Wealth of Nations", written by Scottish economist and philosopher Adam Smith. One of the first collected descriptions of what builds a nation's wealth. Written at the beginning of the Industrial Revolution, it covers division of labour, productivity and free markets. Took 10 years to write with reference to 17 years of notes, based off of observations about economic and societal conditions. Offered more practical information for the time to replace mercantilist and physiocratic theories.
Answer:
research four other examples of inferior goods.
There are many examples of inferior goods. Inferior goods are al those goods whose demand rises in times of economic recession. Some examples are:
Cheap food substitutes like supermarket coffee, instantaneous ramen, or canned vegetables.
Cheap clothes.
Flights in low-cost airlines.
Consider the impact of economic recessions and expansions on normal goods.
Economic recessions impact normal goods negatively because people have less income to spend, and they opt to substitute the normal goods for inferior goods.
discuss how revenues of inferior goods producers are expected to be affected by economic recessions and expansions.
In economic recessions, revenues for producers of inferior goods are expected to rise because demand for inferior goods grows. However, because inferior goods are precisely cheaper, this does not necessarily mean that every inferior good producer will make a lot of money.
In economic expansions, revenues for producers of inferior goods will fall, because people, with more income, will flock to normal goods or even luxury goods.
