What do we mean by industry concentration

Assignment Help Econometrics
Reference no: EM131017934

1) Class, is it possible for a business to show an accounting profit, but actually earn an economic loss? Why or why not? Give an example.

2) Example :

the profit maximization rule is that a firm should produce at the level of output corresponding to the equality of marginal revenue and marginal cost. Marginal revenue is the change in total revenue due to a one-unit change in output. Marginal cost is the change in total revenue due to a one-unit change in output. We can write this rule as MR = MC.

2) QUESTION: Class, what if MR does not equal MC? Why does that necessarily mean that profit is not being maximized? Explain.

3) Class, what are some other important barriers to entry? What are more examples of oligopolies? What do we mean by industry concentration?

Reference no: EM131017934

Questions Cloud

Write a summary to discuss your data findings : Write a summary (500-750 words) to discuss your data findings and the proposed solutions generated based on applying econometrics and analyzing the data.
What is the something else that desoto argues is necessary : What is the something else that DeSoto argues is necessary for a capitalist economy to produce wealth? Choose and explain one example or counter example used by DeSoto to make his case.
Positive and negatives aspects of using discounted cash flow : If you were working as an analyst and you were asked to value Porter Inc, would you consider Porter's accounting earnings or cash flow? A) Discuss the positive and negatives aspects of using discounted cash flow to value Porter Inc.
What is the slope of tims budget constraint : Describe how Lewis should spend his $10 on Pepsi and Chicken Wings in order to maximize his total utility. How many Pepsi and Chicken Wings would Lewis buy?
What do we mean by industry concentration : Class, what are some other important barriers to entry? What are more examples of oligopolies? What do we mean by industry concentration?
What is the equilibrium relative price of apples : Graph the relative demand curve along with the relative supply curve. What is the equilibrium relative price of apples? How many apples and how many bananas will each country produce at the equilibrium?
Find the total revenue of the farmers : Find the equilibrium - To reduce the sale of cigarettes to 10 million packs, how large will the excise tax need to be - Find the Total Revenue of the farmers.
How could we make the banking sector easy to fix : Why, up until 2007, did we think that monetary expansion was all that was needed to mitigate the impact of financial crises?
Calculate the percentage of businesses willing to use : So we went to Reference USA to get the total businesses in every city then use the percentage that businesses said yes in the survey and calculate the percentage of businesses willing to use mural as a marketing tool.

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd