Firms must make enough profits to survive, but this does not make them profit maximisers.
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Q136: Short- run profit maximisation is found where
Q137: Malthus argued that population grows geometrically, while
Q138: Long- run average total cost curves are
Q139: When total revenue is declining, the price
Q140: If a firm increases all inputs by
Q142: External economies of scale are due to
Q143: Explain why a firm can make a
Q144: Using an average total cost curve, show
Q145: The short run is the period of
Q146: Spreading overheads means increasing output in order
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