User Account

All Pages

Explain structure-conduct-performance

Assignment Help Microeconomics
Reference no: EM133124347

1. Explain Structure-Conduct-Performance (SCP) paradigm for a monopoly. Give an example of real-life monopoly and explain its SCP.

2. Which costs are pertinent to economic decision making? Which costs are not relevant? Explain in detail.

3. Numerically and algebraically show that MC curve intersects the minimum of AVG curve. What is the relationship between AVC and AC?

4. Write the conditions leading to perfectly competitive equilibrium. Explain what is meant by price- taker" in your own words.

5. A) Algebraically show that at the competitive equilibrium, a firm's price elasticity of demand is equal to e=E*n-s*(n-1), where n is the number of ?rms, E is the price elasticity of market demand, 5 is the other firms' supply elasticity. Also, explain what happens when n approaches to 1 and when n approaches to in?nity.

B) Let market demand be Q=100np, where p is the market price, and supply curve for a competitive firm be q=p. Calculate price elasticity of demand for a firm at the competitive equilibrium when there are i] 10 ?rms; ii} 20 ?rms; iii] 50 ?rms. Explain the relationship between the number of firms and its price elasticity of demand.

6. In the real world, do you think that all firms are profit-maximizers? Discuss and try to find evidence for your claims.

Reference no: EM133124347

Questions Cloud

Importance of exhibition place located in toronto : Write a detailed importance of Exhibition Place located in Toronto.
What is the price of output : 1. An industry of price-taking profit-maximising firms in perfect competition all produce using the same technology, and each has a total cost function given by
Statement about market failure : Identify the correct statement about market failure from those provided below:
What tools amd methods and can be used : What tools amd methods and can be used to analyze data from the following: matrix technology, SWOT analysis, life cycle analysis, market growth and attrativenes
Explain structure-conduct-performance : 1. Explain Structure-Conduct-Performance (SCP) paradigm for a monopoly. Give an example of real-life monopoly and explain its SCP.
Law of one price and purchasing-power parity : What is the difference between the law of one price and purchasing-power parity? How does absolute purchasing-power parity differ from relative purchasing-power
Sales of poundland : "The sales of Poundland and other bargain stores tend to thrive when the economy is in a recession."
What are the major foreign industries : What are the major foreign industries in which U.S. businesses have chosen to place direct investments? What are the major industries in the United States in wh
Estimate the short-run total cost function : Suppose you estimate the short-run total cost function to be TC = 200 + 10Q + 0.1Q2.

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!

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