User Account

All Pages

Perfectly competitive market

Assignment Help Business Economics
Reference no: EM131395198

In a perfectly competitive market, all firms are identical, firms can freely enter and exit, and the market has an unlimited number of potential entrants. Now, the government starts collecting a specific tax t. What is the effect on the long-run equilibrium market quantity, market price, and the quantity for an individual firm?

Reference no: EM131395198

Questions Cloud

Briefly explain how a map is a model : Consider economic theory: a. Briefly explain how a map is a model. b. Given an example of how a particular model can be appropriate in one context and inappropriate in another.
Possible for firms in a perfectly competitive market : Briefly explain whether it is possible for firms in a perfectly competitive market to earn zero economic profit even if they have incurred a sunk cost upon entry into the market. Given an example of such a cost.
Use the counterexample method : Use the counterexample method to prove the following categorical syllogisms invalid. In doing so, follow the suggestions given in the text.- All persons who assist others in suicide are people guilty of murder.
Identify the different technological innovations : Using the organization (Apple Inc) that you researched for the Module One discussion, identify at least two different technological innovations that you associate with that organization. For each of the innovations, explain the types and patterns ..
Perfectly competitive market : In a perfectly competitive market, all firms are identical, firms can freely enter and exit, and the market has an unlimited number of potential entrants. Now, the government starts collecting a specific tax t.
Discuss the legal arguments raised by the parties in case : BBAL401 Company law Group Assignment and Presentation. Identify the facts of the case. Explain the relevant law relating to the case. Discuss the legal arguments raised by the parties in case
Price because of the shortage in a free market : A) Using two separate supply and demand graphs, graphically show and verbally explain how a shortage is created by each of the two changes. B) Explain what eventually happens to price because of the shortage in a free market. C) Explain how supplie..
Does a wireless network present any health hazards : Do the walls in the building present a problem for a wireless network? Does a wireless network present any health hazards?
Discuss about the types of topology : Wireless communication, generally, useless three configuration topologies (1) point to point; (2) point to multipoint; and (3) multi-point to point. In this paper, (a) define each topology, (b) provide a scenario for using each topology, and (c) ..

Reviews

Write a Review

Business Economics Questions & Answers

  Identify at least two professional organizations in field

Identify at least two professional organizations in a chosen field. Research the organizations to identify the following:

  Qyou possess the following information about ipath the

q.you possess the following information about ipath. the price elasticity of demand for ipath is -2.5 the cross price

  Trade-off between inflation and unemployment

How would Cost-of-Living Adjustments weaken the ability of the central bank to exploit the trade-off between inflation and unemployment?

  What do you expect to happen to the price of jelly

There has been a bumper crop of peanuts this year. What do you expect to happen to the price of jelly? Explicitly state the steps in logic you use to come to your conclusion and remember to draw the supply and demand graphs.

  How it is perceived by different cultures within the u.s.

Use at least three sources, two of which must be scholarly sources (peer reviewed studies or journal articles) from the West library.Format your paper according to the West Writing Style Guidelines, the West Citation and Reference Generator tool f..

  Compute the numerical elasticity of long-run demand

Compute the numerical elasticity of long-run demand. Is it unitary, elastic, inelastic, etc. Explain why would consumers demand 0 minutes in the long run if the price was $.30 per minute.

  New automobile with hyprid fueled engine

You have decided to purchase a new automobile with a hyprid- fueled engine and a six - speed transmission. After the trade - in of your present car, the purchase price of the new automobile is $30,000. Should you accept the 3 % finance plan or accept..

  Find the price at which the firm sells the product

Suppose that a firm maximizes its total profits and has a marginal cost (MC) of production of $8 and the price elasticity of demand for the product it sells is (-)3. Find the price at which the firm sells the product.

  Socially beneficial outcomes is talking utter nonsense

"Anyone who tells you that markets left to their own devices always lead to socially beneficial outcomes is talking utter nonsense." Do you agree with this statement? Defend your position.

  Illustrate criticism can you see with this incentive plan

Suppose you decide to elicit high CEO effort when and if bad luck occurs by paying bonus for $500 million outcomes. Illustrate what criticism can you see with this incentive contract plan.

  Q gains from trade will result if a country specializes ina

q. gains from trade will result if a country specializes ina. the goods in which it have a comparative advantage.b. all

  Market segment is independent of other market segment

The Snow City ski resort caters to both out-of-town skiers and local skiers. The demand for ski tickets for each market segment is independent of the other market segment. The marginal cost of servicing a skier of either type is $50.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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