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Economics Tuition: Discuss the relative significance of input cost, consumer incomes and market concentration in influencing firms’ pricing decisions

https://www.youtube.com/watch?v=_fyq_uZ_ilM Identify the key features that affects firms’ decision to set price level Discuss the relative significance of...
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Economics Tuition: Discuss the relative significance of input cost, consumer incomes and market concentration in influencing firms’ pricing decisions in your country

Discuss the relative significance of input cost, consumer incomes and market concentration in influencing firms’ pricing decisions in your country. [25]...
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Economics Tuition: Distinguish, with examples, between the fixed and variable cost involved in the supermarket industry

Fixed costs are costs incurred by the firm on fixed factors of production that do not vary with any change in the level of output such as the expenditures on...
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Cost of Production

H2 Economics Only


In the topic, cost of production, students will grapple with fixed and variable costs. In essence fixed costs do not vary with output while variable costs vary with output. It provides and accurate way to measure the total economic cost of production. Students will have to learn how to differentiate between fixed and variable costs in order to determine the total cost of production for an entity.