Characteristics of perfect competition

Assignment Help Microeconomics
Reference no: EM1371253

Write down some of the characteristics of perfect competition. Which kinds of industries come closest to perfect competition in the real world?

Reference no: EM1371253

Questions Cloud

Determining marketing management : Explain your question and receive the step-by-step response ASAP. Describe in detail one factor which makes an industry a competitive industry and provide a real life example of this factor at work.
Find minimum number of storage required for bfs and dfs : Assume we have problem space where there is uniform branching factor b and there is single goal node at depth m. Determine the minimum number of nodes expanded and storage required for BFS and DFS?
Explain what is the value of case study analysis : Value of Case Study Analysis - Explain what is the value of case study analysis and how do results from a case study analysis differ from results from traditional qualitative.
Explain what is portfolio management : IT Portfolio Management Presentation -What is portfolio management and what are the benefits of portfolio management?
Characteristics of perfect competition : Write down some of the characteristics of perfect competition. Which kinds of industries come closest to perfect competition in the real world?
How wal-mart incorporates the goals of shareholders : Strategic Management - Please analyze how Wal-Mart Incorporates the goals of its shareholders
Profit-maximization long-run supply curve : Using the firms marginal cost curve, compute the profit-maximization long-run supply curve for typical retailer. Compute the average total cost curve for the typical gasoline retailer, and determine that average total cost are less than price at the..
Explain the concept of demand with the examples : In economics, demand for a product is considered downward sloping. This implies that quantity demanded rise when price reduce.
Discuss external environment for wal-mart : External analysis enables companies to identify threats and opportunities and threats are conditions that preclude companies from functioning and making profits.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  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.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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