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Industrial organization or market structure refers to the characteristics of a market or industry, such as the type(s) of product, number and size of firms, ease of entry into industry, cost of exiting, independence of action etc. One such industry is known as Pure Competition. Describe the attributes of such an industry and provide some examples.
Discussion Title: Pure/Perfect Competition
Explore why, in the long run, typical firms in perfectly competitive industries earn zero economic profit (or earn only a normal return on investment). What is the adjustment process that drives economic profits to zero? Why does this process not occur in less competitive industries? Find an example that illustrates the process.
Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
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Describe three problems of using fiscal policy to achieve a precise level of GDP and why is frictional unemployment inevitable in an economy characterised by imperfect job information and non-zero job-search time?
the knowledge you have collected in this course on monetary and fiscal policy actions, critically describe the transmission process.
Some reject fiscal stimulus measures in all policy forms. Explain what the various limitations are to a successful fiscal stimulus. Be sure to consider the damaging activities and decisions of (a) private corporations, (b) commercial banks,..
Provide a business or political example of the prisoner's dilemma from the field of game theory. What is the payoff for each participant in your example.
If the Federal Reserve where ready to cut interest rates next week and officials indicated today that quarter-point cut in federal funds remains firmly on table, despite market expectations of half point cut.
Could a nation's production possibilities curve shift outward? Describe what such a shift would mean, and discuss at least two events that might reasone such a shift to occur.
Difference among the resource market and the producer market in a circular flow model. In what way are businesses and households both sellers and buyers in this model.
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