Perfectly competitive industry

Assignment Help Business Economics
Reference no: EM13853229

Perfectly Competitive Industry

Find a purely/perfectly competitive industry. State why this industry is a purely competitive market. Give examples as to why. Please use the drop box to submit your extra credit assignment.

Reference no: EM13853229

Questions Cloud

Including the supply curve of domestic producers : Jacob Viner originally envisioned a situation where, in the demand/supply graph of a trade-diverting customs union, the demand curve was vertical and all supply curves (including the supply curve of domestic producers) were horizontal. In this situat..
Firm is only producer of high-tech sports utility vehicle : Suppose that your firm is the only producer of a high-tech sports utility vehicle for North American markets. Assume a constant marginal cost of $25,000 to produce each vehicle and no fixed costs of production.
Financial markets are not in equilibrium : If interest rates differ between two countries, it is an indication that the financial markets are not in equilibrium, and that investment flows should be taking place between the two countries. Agree? Disagree? Explain.
Regarding how historian should chronicle a plague : What common assumptions guide the Thucydides and Procopius readings regarding how a historian should chronicle a plague? What different assumptions do they possess about both human behavior and the role divine forces play in human history? How do bot..
Perfectly competitive industry : Find a purely/perfectly competitive industry. State why this industry is a purely competitive market. Give examples as to why. Please use the drop box to submit your extra credit assignment.
Relation between marginal and average costs : Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs. Describe the relation between marginal and average variable costs.
Afford to spend for a geothermal heat pump : A geothermal heat pum can save up to 84% of the annual heating and cooling bills of a certain home in the norotheaster US. In this region, the yearly cost of conventionally heating and cooling a 2,000 square foot house is about $2,900. The maximum am..
Capital intensive and labor intensive : Consider again the case analyzed in class with two sectors exhibiting constant returns to scale technology (sector A is capital intensive and sector T is labor intensive). Suppose there is a neutral technological change in sector T only (no technolog..
Labor intensive-both produce under constant returns to scale : Suppose that in our economy represented by sectors A and T as described in class (A is capital intensive and T is labor intensive; both produce under constant returns to scale), there is a positive production externality (for instance knowledge spill..

Reviews

Write a Review

Business Economics Questions & Answers

  Assumption when using an analysis of variance

Which of the following is a necessary assumption when using an analysis of variance?

  Pay per unit to provide the socially efficient quantity

Elucidate how much will each worker have to pay per unit to provide the socially efficient quantity.

  Why might this decision be against its own best interests

Suppose that the tax of $28 is levied on each item sold by a monopolist, and as a result, it decides to raise its price by exactly $28. Why might this decision be against its own best interests?

  Increasing government spending to build the high speed

You are working at an investment firm that has many investments in Lithuania. You have been asked to do a simple simulation showing the potential effects of Lithuania building a high-speed rail network, and what will happen if there is worldwide pres..

  Compute market price quantity of wheat produced

Compute market price, quantity of wheat produced, and the new equilibrium number of farms in this new situation.

  Who might be opposed to a system of merit pay

A current database in education is whether teachers should be paid on a standard pay scale based solely upon their years of training and teaching experience, or whether part of their salary should be based upon their performance

  Illustrate what wage would a monopoly union demand

Illustrate what wage would a monopoly union demand Explain how many workers would be employed under union contract.

  Importance to use price index adjustments

How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.

  How much consumer surplus is generated at the prices

A monopolist firm serves 6 consumers. Each of the consumers only buy one unit of the good. Two consumers buy one unit if the price is lower or equal than $100 and the other four consumers buy one unit if the price is lower or equal than $10. The firm..

  Define the social planner problem

Define the Social Planner Problem. Solve the Social Planner Problem. This is, find the Euler equation in terms of exogenous variables and the only endogenous variable k2. Define the tax distorted competitive equilibrium of this economy. Solve the rep..

  Characteristic of perfectly competitive market

Which of the following is NOT a characteristic of a perfectly competitive market? Recall the Application called "Wireless Women in Pakistan." What makes the wireless telephone market in the US NOT perfectly competitive? Recall the Application called ..

  Qhow do external costs level of output to produce and

q.how do external costs level of output to produce and economic efficiency given a chartquantity private costs social

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd