203 prompts matching "Why a firm selling a good with inelastic demand raises total revenue when it rai"
Spot my mistake: Calling a change in price a shift of the demand curve
Act as my SS3 Economics tutor. Write a short answer on calling a change in price a shift o
Spot my mistake: Assuming equilibrium price must rise whenever demand and supply both increase
Act as my SS3 Economics tutor. Write a short answer on assuming equilibrium price must ris
Spot my mistake: Reading the steepness of a demand curve as its elasticity
Act as my SS3 Economics tutor. Write a short answer on reading the steepness of a demand c
Spot my mistake: Assuming a firm should shut down as soon as it begins to make a loss
Act as my SS3 Economics tutor. Write a short answer on assuming a firm should shut down as
Spot my mistake: Treating a rise in the price of one good as inflation
Act as my SS3 Economics tutor. Write a short answer on treating a rise in the price of one
Spot my mistake: Confusing economics with commerce and with accounting
Act as my SS3 Economics tutor. Write a short answer on confusing economics with commerce a
Let me explain: The mixed economy, and why most countries actually run one
I have just studied the mixed economy, and why most countries actually run one in my SS3 E
Spot my mistake: Assuming a mixed economy is simply capitalism with higher taxes
Act as my SS3 Economics tutor. Write a short answer on assuming a mixed economy is simply
Let me explain: A movement along a demand curve against a shift of the whole curve
I have just studied a movement along a demand curve against a shift of the whole curve in
WAEC prep: Abnormal demand curves and the Giffen paradox
Act as a WAEC/NECO Economics examiner. I am in SS 3. Set me five exam-style questions on a
Practice set: Joint, competitive, derived and composite demand
Act as my SS3 Economics tutor. Give me five practice questions on joint, competitive, deri
WAEC prep: Excess demand and excess supply, and how a market clears them
Act as a WAEC/NECO Economics examiner. I am in SS 3. Set me five exam-style questions on e
Spot my mistake: Confusing accounting profit with economic profit
Act as my SS3 Economics tutor. Write a short answer on confusing accounting profit with ec
WAEC prep: Oligopoly and the interdependence between firms
Act as a WAEC/NECO Economics examiner. I am in SS 3. Set me five exam-style questions on o
Let me explain: Demand-pull inflation set against cost-push inflation
I have just studied demand-pull inflation set against cost-push inflation in my SS3 Economics class. Let me explain it back to you in my own words, then tell me plainly what I got wrong or left out. Ask me one follow-up question afterwards to test whether I really understood it.
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Let me explain: Why the production possibility curve is concave to the origin
I have just studied why the production possibility curve is concave to the origin in my SS
Let me explain: The determinants of price elasticity of demand
I have just studied the determinants of price elasticity of demand in my SS3 Economics cla
WAEC prep: Income elasticity and cross elasticity of demand
Act as a WAEC/NECO Economics examiner. I am in SS 3. Set me five exam-style questions on i
WAEC prep: The optimum firm and the optimum size of a plant
Act as a WAEC/NECO Economics examiner. I am in SS 3. Set me five exam-style questions on t
Spot my mistake: Confusing economies of scale with an ordinary fall in variable cost
Act as my SS3 Economics tutor. Write a short answer on confusing economies of scale with a