Discuss the key features of each market structure

Assignment Help Macroeconomics

Reference no: EM132212196 , Length: word count:3000

Economics for Managers Research Essay Assignment -

Questions -

(a) Suppose that a perfectly competitive industry becomes a monopoly. Describe the effects of this change on price, quantity, consumer surplus, producer surplus and deadweight loss.

In answering this question, as a minimum, you need to

discuss the key features of each market structure such as number of sellers, type of product, and entry conditions.
explain how short run and long run profits or losses might arise by using diagrams.
compare price, quantity, consumer surplus, producer surplus and deadweight loss in both market situations with graphs.

(b) Choose an Australian industry that represents oligopoly. Justify your example by relating them to the characteristics of oligopoly market. Why is it that in some oligopolistic industries in Australia there is a large amount of advertising while in others there is very little?

As a minimum, you should

discuss key features of oligopoly and the role of advertising in oligopoly.
provide a brief description of the Australian industry and the impact of advertising.
justify by providing actual and reliable data.

(c) What are the reasons for housing affordability becoming an increasing problem over the past few decades in Australia? Explain some of the factors that contribute to restrictions in supply of housing in Australia's capital cities. Using diagrams analyse the solutions to housing affordability problem.

In answering this question, you need to

discuss housing affordability crisis in Australia with the demand and supply side factors.
explain the solutions that have been attempted or are proposed to address housing affordability.
explain the effect of first home owners' subsidy on price and quantity (subsidy with perfectly elastic and perfectly inelastic supply).
Use housing market data to justify your answer.

Additional marks - Overall presentation of work, especially use of graphs, clear written expression. Appropriate use of referencing.

Reference no: EM132212196

Questions Cloud

Discuss aspect of entrepreneurship : Discuss an aspect of entrepreneurship that you found particularly interesting or useful for those starting a new business.

Write a python function that takes the name of a sql table : Write a python function that takes the name of a SQL table as parameter and then does the following:

Distinguish between border security and immigration : Distinguish between Border Security and Immigration. explain what Quality Culture means?

Write pseudocode to sum consecutive odd integers : Write pseudocode to sum consecutive odd integers. Let the lowest odd integer be L and the highest odd integer be H, and let both L and H be provided.

Discuss the key features of each market structure : ECON20039- Economics for Managers Research Essay Assignment, Central Queensland University, Australia. Discuss the key features of each market structure

Critical to organization overall strategic plan : Identify a key area where the human resource department is critical to an organization's overall strategic plan.

The market for new big screen flat-panel television : Keith Avondale is in the market for a new “big screen” flat-panel television.

How your company could expand into the global market : Discuss how your company could expand into the global market. Examine promotional methods that could be used to market your lemonade globally.

Smart phone app aimed at managing personal homework : A software project to develop a smart phone app aimed at managing personal homework and reading assignments for an individual student.

Reviews

len2212196

1/10/2019 2:12:51 AM

Length 3,000 words. Please note that this assessment requires substantial research. Assessment criteria - You must refer to the textbook in the first instance. Besides the textbook, you should also refer to a few other academic books, journal articles and relevant websites in answering these questions. Use in-text referencing and provide a list of references. All submissions for this course must use the American Psychological Association (APA) referencing style. Concepts must be defined accurately and completely.

len2212196

1/10/2019 2:12:45 AM

The assumptions upon which the analysis is based must be stated at the onset. Diagrams must be drawn properly, correctly labelled and the relations they depict explained. Photocopied and scanned graphs from books, articles or websites are not acceptable. It is preferable to hand-draw a graph then scan it to insert in your file. Answers must be complete, addressing the specific tasks nominated in the questions. Remember an extension is not a gift, it is a burden.

len2212196

1/10/2019 2:12:39 AM

Assignment submission - In Moodle there is now a default setting, which will automatically submit your assignment for marking, if you have forgotten to click the Submit for marking button. After an assignment's due date and time has passed, any assignments that are still in draft mode (i.e. you have not yet submitted the assignment for marking) will be auto-submitted on your behalf. This action will occur only once for an assignment at the due date/time. If you are submitting an assignment after the due date/time has passed, then you will still need to click the Submit for marking button as normal. "Perfect & Monopoly- Market comparison- Key features-effects of the change" Features of each market "Effects on price, quantity, consumer surplus, producer surplus and deadweight loss (Each effect 1 mark, i.e, analysis 0.5 + diagram 0.5)" "Clearly (correctly) explains the question using material above the textbook. Uses (correct) diagrams for all market structures and for comparison".

len2212196

1/10/2019 2:12:33 AM

"Oligopoly market - Case study"- Justification and impact of advertising (3 marks) providing actual and reliable data (3 marks). "Provides all relevant data, and uses appropriate analysis of economic data that supports their argument." "Housing affordability crisis" - Demand side and supply side factors with reliable data "Solutions attempted and proposed solutions (analysis 2 marks and diagram 1 mark)" "Clearly (correctly) explains the question (using data and diagrams) and sources outside the textbook." Overall presentation of work, especially use of graphs, clear written expression "Very good quality tables and diagrams, clear written expressions." "Appropriate use of referencing." "Referencing is comprehensive and conforms exactly to APA style onventions."

Write a Review

Required(*) Message

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!

Submit Assignment

User Account

All Pages