Discuss the characteristics of a perfectly competitive firm

Assignment Help Microeconomics
Reference no: EM13743490

Profits and Your Franchise Firm

We have explored the costs of production which have a direct impact on the profit of your firm. Write a 2- to 3-page essay that addresses the following questions.

Give an example of indivisible inputs for your firm.

Discuss the characteristics of a perfectly competitive firm. Does your franchise firm share any of these same traits? Explain.

In the long run, what happens to economic profits (assuming your firm is competitive)? Explain.

Reference no: EM13743490

Questions Cloud

How the debt capacity of the governmental entity : Select a government agency (local/state/federal) and develop a four- to five-page APA-style paper summarizing the following: Explain how the debt capacity of the governmental entity is determined. Evaluate the effect of refunding or reorganizing exis..
Write an essay on the presidential election of 1912 : The presidential election of 1912 was the most Progressive in US history, with the two frontrunners, Theodore Roosevelt and Woodrow Wilson, both espousing Progressive philosophies.
How many phosphate groups does atp have : How many phosphate groups does ATP have and Does the DNA in the skin cell have the same backbone as DNA in the brain cell of the same organism
Global energy company swott analysis paper : Select one wind energy company in Germany: one coal power plantin India: and one nuclear power plant in Japan that operates in the energy field.
Discuss the characteristics of a perfectly competitive firm : Discuss the characteristics of a perfectly competitive firm. Does your franchise firm share any of these same traits? Explain.
What things must parent cells provide their daughter cells : What two things must parent cells provide their daughter cells in order for them to survive? Why do daughter cells need these things
How did the cold war affect europe : How did the cold war affect Europe?
Stakeholder analysis & impact : This week you learned about synthesis. For this week's assignment you will review the proposal you submitted in week 6 and utilizing the scholar-practitioner approach discussed in the lecture, update the proposal using synthesis. Ensure you cite y..
How blue-green algae evolved differently : How have cyanobacteria and blue-green algae evolved differently in terms of photosystems

Reviews

Write a Review

Microeconomics Questions & Answers

  Question 1 what is the purpose of the imf and why might the

question 1 what is the purpose of the imf and why might the imf be called the lender of last resort?nbspdiscuss hownbsp

  How mcuh is the balanced-budget multiplier

Suppose the federal government needs to balance the budget, which means that when the government spending increases, taxes must increase equally. In this case, government spending multiplier is called the balanced-budget multiplier, defined as the..

  Firms can operate in one or more markets and not always on

firms can operate in one or more markets and not always on the same side of the market. general motors is a buyer in

  What level of output will the firm produce

Suppose that the average variable cost of the firm is given by AVC(q) = 3 + q. Suppose that the firm"s fixed costs are known to be $3. Will the firm be earning a positive, negative, or zero profit in the short run?

  Suppose that national restaurant firm called bbq builds 10

assume that a national restaurant firm called bbq builds 10 new restaurants at a cost of 1 million per restaurant. it

  Assess merits of the economic arguments of each camp and

there is a contentious internal debate about rebalancing chinese growth from investment to consumption in china and in

  Do you think usa export and import of goods and services

the gains from specialization and trade are based on comparative advantage which reflects the relative opportunity

  Plot the demand curve for the firm

Compute the elasticities for each independent variable and Determine the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Provide a rationale in which you cite your results..

  Question about trade liberalization

Environmentalists discuss that trade liberalization harmful for the environment. The decisions of World Trade Organization in particular have been subject of much criticism.

  Tariffs-unlike quotas-promote domestic firms monopoly power

Optimal tariffs are an effective means of improving a nation's trade balance. If quotas are administered by exporting nations, the net welfare loss to the importing nation includes the productive, consumption and revenue effect. Tariffs, unlike quota..

  Write the difference between short-run and long-run

what is the difference between short-run and long-run decisions? elaborate more on how a firm may choose different

  Marginal cost schedule for produc- ing pulp

The Great Southern Paper Company has the following marginal cost schedule for produc- ing pulp: ?Quantity 1 2 3 4 5

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