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Perfect competition is a market in which there are many firms, each selling an identical product; many buyers; no barriers to the entry of new firms into the industry; no advantage to established firms; and in which buyers and sellers are well informed about prices.
Explain why perfect competition is efficient.
Determine whether perfect competition is fair based on the two views, i.e., fair rules and a fair result.
Your evaluation should be based on the many perfect competition markets that you encounter in your everyday life, and your research conducted on this topic.
You have $3,100 you want to invest in your classmate’s start up business. You believe the business idea to be great and hope to get $3,950 back at the end of three years. If all goes according to the plan, what will be the return on your investment?
What was the finding of the first inquest that was conducted in Alice Springsbeginning on Dec. 15, 1980?
Find the probability that Pam drinks between 1.77 and 2.186 litres or more than 2.5 litres of water today.
Explain customer-perceived value. Explain total customer satisfaction. What valuable functions can brands perform for a firm?
Comment on its growth rates over the period of last ten years about 300 words.
Few years back, HP launched four new computer models aimed at the Chinese and Indian consumer markets to create loyal customers as these markets emerged. Using penetrating pricing strategy, HP priced the new computers under $400, significantly less t..
The United States experiences a recession, reducing imports, while their trading partners experience an increase in output and incomes.
Describe Tim Hortons experiences with mergers/acquisitions. Did these combinations create or destroy value? Why?
Consider the following scenario: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding. What is the effect of the flooding in th..
Consider the market for North Face coats. Suppose average household income increases from $38 thousand to $54 thousand per year. As a result, the demand for North Face coats increases from 430 to 507. Using the midpoint formula, what is the income el..
Discuss what this law is and provide an example of diminishing marginal utility you've encountered recently.
Suppose an earthquake destroys part of a nation’s capital stock, but does not kill off any people. Use the Solow model without technological change to describe the effect of this event on the country’s total output and its per capita output over time..
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