P2+timed+paper

Explain the law of diminishing returns using average and marginal product curves.
 * 1.P2 07 **

** 2.HL P2 May 08 ** Using at least one diagram, explain the difference between profit maximization and sales revenue maximization as goals of the firm.

** 3.May 05 HL P2 ** Explain the relationship in the short-run between the marginal costs of a firm and its average total costs.

** 4.Nov 05 HL P2 ** Using appropriate diagrams, explain the difference between the law of diminishing returns and economies of scale. (10)

** 5.May 06 HL P2 ** Using appropriate diagrams, discuss whether monopoly is more efficient or less efficient than perfect competition.

** 6.HL P2 Nov 06 ** A monopoly firm decides to maximize revenue rather than profit. Use a diagram to explain what will happen to price and quantity. (10)

** 7.Specimen HL P2 ** To what extent can a firm in monopolistic competition earn supernormal (abnormal) profits?//[10 marks]//

** 8.Nov 2009 HL P2 ** Explain the nature of competition in a non-collusive oligopoly.

Help with answering the questions