What is a firm's markup? What does it show?
What will be an ideal response?
A firm's markup is the amount by which price exceeds marginal cost. A markup shows that buyers pay more than the firm's marginal cost.
Economics
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Because demand curves slope downward according to the Law of Demand, the price elasticity of demand is a negative number
Indicate whether the statement is true or false
Economics
What is inflation targeting?
a. Making sure inflation is reduced to zero. b. Increasing the required reserve ratio when there is inflation. c. Increasing the supply of money in the economy. d. Aiming for a particular inflation level.
Economics