Firms in competitive and well-functioning markets

Assignment Help Business Economics

Reference no: EM131174659

Economists believe that it is generally not possible for firms in competitive and well-functioning markets to reap any extra profits from hiring superior factors of production in the long run. With the aid of diagrams, carefully explain the reasoning on which this belief is based.

Reference no: EM131174659

Questions Cloud

Describe the different types of debt securities : Describe the different types of debt securities.- Present and explain the U.S. Treasury yield curve. -Present the three main types of yield curves with regard to shape.

Find the magnitude and direction of (t) at t=1.0s : The position of a particle is given by r =3.0tf +2.0t2]+ 5.0k , where t is in seconds and the coefficients have the proper units for r( t) to be in meters.

When set of complements is produced and sold by same firm : When a set of complements is produced and sold by the same firm, the seller can sometimes increase overall revenues by strategic pricing of different complements, in some cases even charging less than the marginal cost of producing one of the items i..

Write short essay on the business strategies : Write a short essay on the business strategies that were used by Wal-Mart to make the company the largest retailer in the world. As part of your answer, make sure that discuss whether you believe that these strategies will continue to work as well in..

Firms in competitive and well-functioning markets : Economists believe that it is generally not possible for firms in competitive and well-functioning markets to reap any extra profits from hiring superior factors of production in the long run. With the aid of diagrams, carefully explain the reasoning..

Economic approach to value suggests that overall value : The economic approach to value suggests that the overall value that is created through the production and sale of any good is roughly equal to the sum of the consumer surplus and the producer surplus associated with the good. In this context, with th..

Write a program which uses 8 dip switches on lab pro board : Write a program which uses 8 DIP switches on LAB PRO Board as 8 different speeds for motor. Each switch will run the dc motor at certain speed.

What role does self-disclosure play in couple relationship : Analyze the impact of gender and culture on interpersonal communications. First, define these two key terms. Then, explain the importance of gender and culture in relationships generally and for your couple or group specifically. What advice can y..

?nd the stochastic di?erential equation : Estimate the mean rate of return and the standard deviation of each of these assets.- Using their correlation coe?cient ρ, ?nd the weight of each of these assets that will give an e?cient portfolio with minimum variance.

User Account

All Pages