User Account

All Pages

What assumptions are necessary for a market to be perfectly

Assignment Help Microeconomics
Reference no: EM13321648

1. Can there be constant returns to scale in an industry with an upward-sloping supply curve? Explain.

2. What assumptions are necessary for a market to be perfectly competitive? In light of what you have learned in this chapter, why is each of these assumptions important?

3. Suppose a competitive industry faces an increase in demand (i.e., the demand curve shifts upward). What are the steps by which a competitive market insures increased output? Will your answer change if the government imposes a price ceiling?

Reference no: EM13321648

Questions Cloud

Explain the thermal decomposition of acetaldehyde : The thermal decomposition of acetaldehyde, CH3CHO->CH4+ CO, is a second- order reaction. the following data were obtained at 518 degrees C.
The government passes a law that allows a substantial : The government passes a law that allows a substantial subsidy for every acre of land used to grow tobacco. How does this program affect the long-run supply curve for tobacco?
Estimate the heat flow : Estimate the heat flow when a double pane of glass is used with a 4.0 mm air gap between the panes? Each individual glass sheet is 4.0 mm thick
Explain quantum number or sublevel designations : Give the number of electrons in an atom that can have the following quantum number or sublevel designations: n = 3, l = 2
What assumptions are necessary for a market to be perfectly : What assumptions are necessary for a market to be perfectly competitive? In light of what you have learned in this chapter, why is each of these assumptions important?
Discuss the role of human resource development : Discuss the role of Human Resource Development (HRD) in contemporary organizations, and the ways in which HRD may contribution to organizational performance.
Explain acetic acid and sodium acetate : how would you make 100ml of a buffer with a pH =4.25, starting with 0.25 M acetic acid and 0.25M sodium acetate
What is the final temperature of the coffee : 5.00 g of ice at -10.0 celsius are added to 20.0 mL of hot coffee at 60.0 celsius, What is the final temperature of the coffee
Curve for films likely to be horizontal or upward sloping : An increase in the demand for video films also increases the salaries of actors and actresses. Is the long-run supply curve for films likely to be horizontal or upward sloping? Explain.

Reviews

Write a Review

Microeconomics Questions & Answers

  The cost of producing pastries and sandwiches in northland

The table lists the maximum feasible hourly rates of the production of pastries if no sandwiches are produced and the maximum feasible hourly rates of the production of sandwiches if no pastries are produced.

  Write the equation for total costs

Write the equation for Total Costs and what is TC when profit is maximized - what is Total Revenue when profit is maximized?

  Determine the specific details about fictitious company

Determine the specific details about this fictitious company in order to conduct an environmental scan of this company.

  How much is the profit or loss

Consider a firm in a perfectly competitive industry. The firm has just built a plant that cost $1,700.Each unit of output requires $14 worth of materials. Each worker costs $11 per hour.The firm's production starts at 300 units with 1 worker (40 h..

  Why do people hold their wealth in the form of money

Why do people hold their wealth in the form of money rather than another asset that will provide a rate of return higher that the rate on return

  How would a homogenous approach arguments

compose an argument for or against the idea that the peasantry constitutes a uniform social category. How would a homogenous approach, a heterogeneous approach, or a differentiation approach that considers political economy support your argument

  Find the production possibilities frontier

Intermediate microeconomics- Find the production possibilities frontier for the Rancher. Define marginal rate of transformation. What is the marginal rate of transformation of meat for potatoes for the rancher?

  Considerations of product features-use of advertising

Create a list of reasons for your recommendation and include considerations of product features and use of advertising.

  Describe an example of a particular health care

Describe an example of a particular health care good or service at the beginning of your posting and to what extent do the providers of the good or service influence consumers' decisions?

  Find straight line and double declining balance schedules

Your company is considering the purchase of a secondhand scanning microscope at a cost of $10,500, with an estimated salvage value of $500 and a projected useful life of 4 years. Determine the straight line (SL) and double declining balance (DDB) ..

  The weak preference relations of bob and carol

The weak preference relations of Bob and Carol can be represented by real valued utility functions

  Explain underlying purposes of the antitrust policy

Using the "Monopoly" model found in the Chapter 10 "Origin of Idea" module, explain why a monopoly will never operate in the inelastic portion of the demand curve? What are the underlying purposes of the antitrust policy in the United States? Thes..

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