Tag Archives: supply

Production, Capital, and Income Maximization

In Chapter 7 of Foundations of Economics, Shawn Ritenour gets into capital theory and explains how entrepreneurs try to maximize their income once they have forecast demand for their products. One of the questions I had before reading this book … Continue reading

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Market Changes

Chapter 6 of Shawn Ritenour’s Foundations of Economics examines what happens when the supply or demand of a good or service in the marketplace changes. Ritenour makes the point that confusion sometimes results from a change in market prices. When … Continue reading

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