Monopolies
Imagine that you live on an island, and the only way anyone on that island can get gasoline to power their cars is through you. … Read More
Competitive Firms
Imagine you run a lemonade stand in Lemonville, a town with thousands of competing lemonade stands. Each lemonade stand sells the same thing: lemonade. A … Read More
Profit Maximizing Point
Put simply: The profit maximizing point for any firm is where MR = MC. This stays consistent among all market types! Understanding the curves Identifying … Read More
Common Stock & Dividends
Let’s start with stocks here, and then get to dividends. Stocks explained Simply put: Stocks are pieces (a.k.a. “shares”) of a company’s equity. A company … Read More
Notes Payable
Notes Payables operate almost very similar to Notes Receivables (covered in Exam 2), with a critical difference: To understand how they work, we’re going to … Read More
Depreciation
Over the course of a company utilizing equipment, it is bound to take on some wear-and-tear. However, this wear-and-tear can be difficult to calculate exact … Read More