Question about efficient production

Assignment Help Microeconomics
Reference no: EM1375826

Supporter of free market systems discuss that free enterprise leads to more efficient production and better response to changing customers preferences. Others point to the fact that markets are not perfect.

Consider both viewpoints and respond to both sides of the issue with your viewpoints.

 

Reference no: EM1375826

Questions Cloud

Illustrates what is the maximum number of applications : Illustrates what is the maximum number of applications per hour which can be handles by the present configuration of the process.
Justify your forecast also the method you used : Develop your own forecast for bow rakes for each month of the next yr (yr 5). Justify your forecast also the method you used.
Illustrate what would be the length of an order cycle : Orders arrive three days from the time they are placed. Daily holding prices are equal to five percent of the price of the beer. If he were to order 16 cases of Stein beer at a time, illustrate what would be the length of an order cycle.
Explain how much will this price the co-op per year : The supplier would like to deliver sweatshirts once a week. Explain how much will this price the co-op per yr. Under illustrate what conditions would you agree to the supplier's proposal.
Question about efficient production : Supporter of free market systems discuss that free enterprise leads to more efficient production and better response to changing customers preferences.
Find out the value of the policy variable : Twelve containers are authorized for the part. Recall which p-bar is the average processing time per container not per individual part. Find out the value of the policy variable, α, which expresses the amount of implied safety stock in the system.
How many containers should jitson authorize for the gear : Setup times are negligible. If the policy variable for unforeseen contingencies is set at 5 percent, explain how many containers should Jitson authorize for the gear replenishment system.
Discussion on venture capital : In the hope of big returns, venture capitalists give funds to finance new firms. However, potential competitors and structures of market into which the new company enters are extremely important in realization of profits.
Illustrate what are the pros also cons of this idea : Examine design-depend increment alism, which is frequent product redesign throughout the product's life. Illustrate what are the pros also cons of this idea

Reviews

Write a Review

Microeconomics Questions & Answers

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Cost of construction for the firm

Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.

  Determining average product of labor

If the production function is Q=K^.5 L^.5 and capital is fixed at 1 unit, then the average product of labor when L=36 is?

  Production possibilities frontier

What is the relationship between bowed out shape of production possibilities frontier and increasing opportunity cost of the good as more of it is produced?

  Demand-supply explanations of recent price change

Name any good or service which has a noticeable recent price change. Using concepts of supply and/or demand, what are some possible explanations for this change in price?

  Information about cost analysis

Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers.

  Explain the median housing price in a community

Explain the median housing price in a community

  Workings of private marketplace

Recognize three well-founded reasons supporting the potentially beneficial role for government intervention in the workings of private marketplace.

  Demand curve for chiropractic visits

Estimate whether and how each of the following factors would shift demand curve for chiropractic visits; an increase in the out of pocket price of chiropractic visits.

  Price effects-changes in elasticity of demand

You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?

  Reducing poverty and improving human welfare

Discuss why is increasing per capital income necessary but not sufficient for broadly dipping poverty and improving human welfare?

  Advertising in monopolistic competition-oligopoly

Why there is so much advertising in monopolistic competition and oligopoly? How does such advertising help consumers and promote efficiency?

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