Are You suprised - Mr. Sadow

3. How is a price-maker different than a price-taker? 4. How are profits, total revenue (TR), and total costs (TC) related? 5. What is another name for the marginal product of labor (MPL)? 6. Why do diminishing returns to labor occur? 7. What is an example of a fixed cost (FC)? A variable cost (VC)? 8. ................
................