User Account

All Pages

Operate a perfectly competitive business

Assignment Help Business Management
Reference no: EM131581695

Question: "Why would anyone run a business if he couldn't make a profit?" This is a frequent response to economists' idea that all firms in a particular market make zero "economic profits."

a. In your own words, explain what economists mean by zero economic profits and why an entrepreneur would choose to operate a perfectly competitive business.

b. Explain why perfectly competitive firms are assumed to make zero economic profits in the long run.

Reference no: EM131581695

Questions Cloud

What common pitfalls should be avoided at all costs : What would happen if a person simply stated his or her hypothesis and then proceeded to gain an instrument and start working on his or her study? Explain.
Can stephens testimony be considered hearsay : Can Stephen's testimony be considered hearsay? Why or why not? Would the court allow Stephen's testimony? Why or why not?
Why did google make this move : Why did Google make this move? What do they hope to accomplish - Apply as many TCOs as you can to Google's attempt to buy into wireless.
Describe the documentation of the conclusions : List the different types of procedures used, and describe the documentation of the conclusions reached as a result of performing substantive procedures.
Operate a perfectly competitive business : "Why would anyone run a business if he couldn't make a profit?" This is a frequent response to economists' idea that all firms in a particular market make zero.
Compare the constitutions with the american constitution : Compare the Constitutions with the American Constitution. While comparing Constitutions, do focus on the rights of an individual and on the whole society.
What is the sunk cost : Suppose that you are halfway through a particular course and you decide that you are not learning anything useful and the rest of the course is not worth.
Describe what is meant by abc analysis : Describe what is meant by ABC analysis. What is the purpose of this inventory technique - provide an example. In your responses to other students
How much should stock price change in dollars and percentage : How much should the stock price change (in dollars and percentage)?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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