Assure the efficient allocation of resources in the long run

Assignment Help Business Economics
Reference no: EM13742001

Why is the unrestricted entry of new firms to all markets necessary to assure the efficient allocation of resources in the long run?

Reference no: EM13742001

Questions Cloud

Operational plan for various divisions in business : Operational plan for various divisions in business sectors Co-Ordination-To organize and communicate in a right manner and providing common rules for employees in different parts of the country
Arguments for and against the minimum wage : Discuss in detail the arguments for and against the minimum wage. Be specific about the position of the economists on the issue. NO graphs and NO math.
Analyzes various elements applyed to marketing products : Write a paper that identifies and analyzes various elements, both legal and ethical, as they apply to marketing products and services in the United States.
Economic replacement analysis : A material handling system was purchased 3 years ago for $120,537. Two years ago it required substantial upgrading at a cost of $14,340. It once again is requiring an upgrading cost of $24,925. Alternately, a new system can be purchased today at a co..
Assure the efficient allocation of resources in the long run : Why is the unrestricted entry of new firms to all markets necessary to assure the efficient allocation of resources in the long run?
Economics deals with the efficient use of resources : Adam Smith favours a policy of laissez faire in managing economic activities. Why? Economics deals with the efficient use of resources? Why? Marginal analysis tends to produce more optimal outcomes when working with scarce resources. How?
What are some of the largest health concerns for population : What does it mean to be healthy. What are some of the largest health concerns for your population. Are there any cultural rituals in health and healing
Discuss how this tac affected the money supply : To increase tax revenue, the US government in 1932 imposed a two-cent tax on checks written on deposits in bank accounts (In today’s dollars, this tax was about 25 cents per checks) Use the model of the money supply under fractional-reserve banking t..
Explain achievement of civil rights of photojournalist : create a PowerPoint presentation of progress made toward the achievement of civil rights of these and other groups in society.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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