Reference no: EM131256433
Assignment
Analyze the differences between short and long run production for a Perfectly Competitive Firm. In your analysis, explain the theoretical conditions that govern the market structure, market conduct and market performance of a perfectly competitive firm. In summary, what does an economist mean by saying that a market is "perfectly competitive"?
Show how a perfectly competitive firm could earn economic profit in the short run, but why a perfectly competitive firm can only expect to earn a normal profit in the long run.
What forces create the differences in industry performance over the long term?
Explain why the end-results of perfect competition in the long-run are desirable for the economy. In particular, what is the relationship between product price, marginal cost and average total cost in the long run for firms in a perfectly competitive industry, and why do economists see these as important outcomes?
Explain why any economic profit would only be temporary, if perfectly competitive firms in an in industry adopt a new and more-highly-productive technology. In this situation, you can assume free "public access" to an industry's technical and financial information. Remember that the availability of perfect information is a typical assumption that impacts the conduct and performance of firms in a perfectly competitive industry.
Throughout your answer to this question, use graphs, completely labeled, to accompany your written analyses.
|
Employees of juniper industries
: The employees of Juniper Industries are presented with information and facts about the workforce's reduced efficiency that is supposedly the cause of dipping sales and customer dissatisfaction. This encourages them to work harder and improve their..
|
|
What is the average annual rate of growth of real incomeper
: In 1964 a five-year plan was introduced in Tanzania. One objective was to double the real percapita income over the next 15 years. What is the average annual rate of growth of real incomeper capita required to achieve this objective?
|
|
Organization mission and vision
: And their enthusiasm and service is recognized and appreciated by customers with whom they interact. What steps has your current employer taken assure that culture is properly aligned with your organization's mission and vision. Give two examples...
|
|
What were external forces social and political or cultural
: What was the situation? What were the external forces, social, political or cultural that influenced the situation? How did it feel to have people doubting you, a loved one, or a friend of yours? What helped you or this other person to overcome th..
|
|
What forces create the differences in industry performance
: What forces create the differences in industry performance over the long term? Explain why the end-results of perfect competition in the long-run are desirable for the economy.
|
|
How might a team leader deal with social loafing
: How might a team leader deal with "social loafing," when members of the team are freeloaders. Willing to receive the benefits of teamwork without doing the work themselves? How would you deal with it if it occurred in a class project?
|
|
Entry level healthcare careerist
: You are an entry level healthcare careerist. Your supervisor holds regular group meetings with other early careerists to discuss critical healthcare topics.
|
|
Describe the various degrees of access to network resources
: Write a 3- to 4-page paper describing the various degrees of access to network resources and business and personal data and the legality of each.
|
|
Principles of goal setting applied in this case
: How are the principles of goal setting applied in this case? How are the principles of job enrichment applied in this case? What were the outcomes of job enrichment in the HIS Departments? What was the impact of job enrichment on motivation and commu..
|