Reference no: EM13153072
Question 1:
Explain and illustrate with diagrams the differences between diminishing marginal returns and decreasing economies of scale and cite causes and examples.
Question 2
Suppose the jeans industry is an oligopoly in which each firm sells its own distinctive brand of jeans., and each firm believes its rivals will not follow its price increases but will follow its price cuts.
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?
Question 3:
(a) Discuss the following statement: 'In the real world there is no industry which conforms precisely to the economist's model of perfect competition. This means that the model is of little practical value'.
(b) Illustrate with a diagram and explain the short-run perfectively competitive equilibrium for both (i) the individual firm and (ii) the industry;
(c) Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm
Question 4:
(a) Explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
(b) In each of the following cases, state whether the monopolist would increase or decrease output:
(i) Marginal revenue exceeds marginal cost at the output produced;
(ii) Marginal cost exceeds marginal revenue at the output produced.
Question 5:
(a) Outline a micro-economic reform issue that is relevant to the Australian economy (i.e. why has there been reform in this industry or market?
(b) How successful do you think these reform measures were and say why referring to some data or research that has been performed.
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Which set of reactions uses h2o and produces o2
: The light-dependent reactions or The light-independent reactions.
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What is financial analysis?
: what is financial analysis?
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How gain be treated
: During the year, Henry, a sole proprietor, sold for $65,000 a machine that was used in his business. The machine had been purchased in 2003 for $50,000, and when it was sold it had an adjusted basis of $30,000. How should this gain be treated?
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Explain the only colored species in the reaction
: The rate of a first-order reaction is followed by spectroscopy, monitoring the absorption of a colored reactant at 520 nm. The reaction occurs in a 1.48- cm sample cell, and the only colored species in the reaction has an extinction coefficient of..
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Explain the long-run perfectly competitive equilibrium
: Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
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Find the price elasticity of demand at each of three prices
: Is the apple pie market perfectly competitive? Why or why not? b. With this data, draw a graph of the linear demand curve for Granny's apple pies. c. Find the price elasticity of demand at each of of the three prices.
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How much of each should you mix to load the gel correctly
: You need to load 10 ug of protein into one of the wells of a gel. This needs to be in 1x buffer and in a total volume of 15 uL. You are given a 10 ug/uL solution of protein, a 5x buffer, and water. How much of each should you mix to load the gel c..
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Why is randomization important for treatments to experiment
: The best we can do is to use one-way ANOVA and make sure to randomize the treatments to the experiment units. Why is such a randomization important?
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What is the percent by volume of this concentration
: A concentration of 0.5 ppm by volume SO2 in air is harmful to plant life. What is the percent by volume of this concentration
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