Customer Service Chat
Get quote & make Payment
Advantages of perfect market, Managerial Economics
Advantages of Perfect Market
It achieves, subject to certain conditions, an allocation of resources which is: socially optimal" or "economically efficient" or "pareto efficient".
Perfectly competitive firms are technically efficient in the long run, in that they produce that level of output, which minimizes their average costs, given their small capacity.
Perfect competition achieves an automatic allocation of resources in response to changes in demand.
The consumer is not exploited. The price of goods, in the long run will be as low as possible. Producers can only earn a normal profit, which are the minimum levels of profits necessary to retain firms in the industry, due to the existence of free entry into the markets.
Posted Date: 11/28/2012 5:09:56 AM | Location : United States
Ask an Expert
Advantages of perfect market, Assignment Help, Ask Question on Advantages of perfect market, Get Answer, Expert's Help, Advantages of perfect market Discussions
Write discussion on Advantages of perfect market
Your posts are moderated
Write your message here..
Circular flow of income and expenditure, The Circular Flow of Income and Ex...
The Circular Flow of Income and Expenditure This is an economic model illustrating the flow of payments and receipts between domestic firms and domestic households. The househo
Economics for accountants, Economics for Accountants A few teachers an...
Economics for Accountants A few teachers and some students have questioned the rationale for including economics in a course of study for professional accountants. In order to
Elasticity of demand, Definition of Elasticity Is defined as the ratio...
Definition of Elasticity Is defined as the ratio of the relative change of one (dependent) variable to changes in another (independent) variable, or it's a percentage change o
Define thevariable factor of production, Define theVariable factor of produ...
Define theVariable factor of production The input level of a variable factor of production can be diverse in the short run. Raw material inputs are believed as variable fact
Marris model, explain marris model
explain marris model
Isoquant analysis, ISOQUANT ANALYSIS In the long run it is possible fo...
ISOQUANT ANALYSIS In the long run it is possible for a firm to produce the same output using different combinations of two factors of production. For instance it the two fact
Cross-elasticity of demand, Cross-elasticity is the measure of responsivene...
Cross-elasticity is the measure of responsiveness of demand for a commodity to the changes in price of its substitutes and complementary goods. For example, cross-elasticity of dem
Calculate the firms short-run total cost curve, A firm producing hockey sti...
A firm producing hockey sticks has a production function given by X = 2 KL In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate fo
Infant industry argument - reason for protection, Infant Industry Argument ...
Infant Industry Argument Advocates of this maintain that if an industry is just developing, with a good chance of success once it is established and reaping economies of sale,
Demand estimation and demand forcasting, Assignment
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.