With fuel prices going up and other energy prices soaring can big energy companies justify their record profits?
It’s easy to blame Government but it is really out of their hands as any decrease in tax will be seen as an oportunity for these companies to maximise their profits.
Seriously the long term implications of these price rises is very damaging for our economy and surely it will plunge us into recession.
Could anyone explain to me these companies logic or is it just as I suppect “pure greed”?
Mickey M asked: An economy class has asked us to draw & label a profit maximizing diagram of an oligopoly firm. Problem is that I search on the internet and I cannot find anything that resembles a profit max diagram, there’s other charts but not this one, please help! Thanks!
David asked: I’ll admit I don’t understand the economic influences of gas prices, but it is moderately criminal to me for the average consumers/drivers to have tripled their budget for gas in the last few years while it seems the big oil companies have not taken any of the blows on the chin themselves. I would really like to hear from people highly knowledgeable of the subject.
SeekingKnowelgeFromYou asked: What is the difference between economic profit and accounting profit, and how does this difference matter for actual business decisions?
s a asked: I’m at a loss… Any and all help is greatly appreciated. Thank you!
The marginal revenue curve of a monopoly crosses its MC curve at $30 per unit, & an output of 2 million units. The price consumers are willing to pay for this output is $40 per unit. If it produces this output the firm’s ATC is $43 per unit, & its AFC is $8 per unit. What is the producer’s profit maximizing output level? What are the firm’s economic profits?
dekakashi asked: As most your you know that the income gap is widening in USA, so do you guys think that the great differences in income is a sign of competitive free market economy?
Jumpin’ Jack Flash asked: I know to really be considered upper-middle class, one usually needs to be educated beyond a Bachelors Degree and work in a profession such as a doctor, lawyer, university professor, architect, or be a high level manager or own a large business. However, these people are usually in simmilar income brackets which affords them the opportunity to live a lifestyle somewhat rich in luxury and enough disposable income to buy more freedom and independence most working-class or middle-class don’t enjoy. Again, I am not speaking of the wealthy here; rather I am discussing the upper-middle class or what is sometimes called the professional-managerial class. What income levels in America would put somebody within this classes range of lifestyle in an average American city. I know New York, Boston, Frisco and LA would be significantly higher than say places like Chicago or Detroit, but a simple range would be great. Thanks!
cincywahine asked: My grandparents on both sides (maternal and paternal) only had 1 income as both of my grandmothers stayed home. My maternal grandmother had 9 children and my paternal grandmother had 6.
My husband and I only have 1 and both of us have decent jobs, but still don’t have the quality of life that they did.
If things are so great, why does it take twice the money to even try to have the same standard of living that my grandparents had?
Just me #1…
If my husband and I did what you stated, then I would agree…
But, we don’t. We very rarely go out and I **** to shop. My car is about paid off and his already is.
money.cnn.com
