What perfectly competitive market

Assignment Help Business Economics
Reference no: EM131236959

Consider the following for an example of a somewhat perfectly competitive market:

Can you think of any products that are not differentiated? In other words, are there any products that you buy where brand does not matter?

Can you think of any industries where there are no (or very low) entry barriers?

Reference no: EM131236959

Questions Cloud

What is producer surplus at competitive equilibrium : What is the quantity of games that will be broadcast at the competitive equilibrium? How much will the Premier League receive for each broadcast game at the competitive equilibrium? What is consumer surplus at the competitive equilibrium? What is pro..
What factors might increase the demand for bonds : What factors might increase the demand for bonds? The supply? What would happen to the market for bonds if a law were passed that set a minimum price on bonds that was above the equilibrium price?
Medium-market team pay for its share of advertising budget : Assume that there are three types of teams in Major League Baseball: large market, medium market and small market. Each of these types has ten teams for a total of 30 teams. The demand function for each type of team is: What is the price Major League..
Unemployment insurance and mandated job security : What are the pros and cons of the government positioning controls on the labor market like; minimum wage, unemployment insurance and mandated job security? Explain each. Which of the aforementioned situations should be assigned in the United States i..
What perfectly competitive market : Consider the following for an example of a some what perfectly competitive market: Can you think of any products that are not differentiated? In other words, are there any products that you buy where brand does not matter? Can you think of any indust..
What are the pros and cons of the government : What are the pros and cons of the government not being involved in the labor market (laissez-fair)? What would be the pros and cons of an economy of personal income tax being fully substituted with a sales tax? Please explain why.
Radio station to see jazz band perform at an outdoor concert : Jim wins a ticket from a Radio station to see a jazz band perform at an outdoor concert. Mike has paid $18 for a ticket to the same concert. All the other costs of attending the concert (including parking, fuel, etc.) are the same for Jim and Mike.  ..
Quantity and quality of persons efforts may be in conflict : When the output is a service rather than a good, it sometimes is difficult to quantify this service. Furthermore, the quality of a service is often as important (if not more important) than the quantity. And in many cases, labor time spent with a cus..
What fraction of total variation in quantity demand of good : An MBA student has proposed the following demand equation for good Y. QdY = a + b PY + c M where: QdY = quantity demanded of good Y in millions of tons per year PY = Price of good Y in dollars per ton M = Average consumer income in thousands of dolla..

Reviews

Write a Review

Business Economics Questions & Answers

  Explain how much quasi-rents would each factory earn

If the two firms each maximise profits independently, explain how much output would each firm produce. Explain how much quasi-rents would each factory earn.

  The mission-vision and value statement of an actual firm

1) the mission, vision, and value statement of an actual firm 2) whether or not you feel the firm has been successful in adhering to their statements and 3) provide examples to support your response to number 2

  Trade liberalization and environmental standards

Trade liberalization leads to a "race to the bottom" in environmental standards. Make the argument and counter-argument, present the following data;

  If the prices of all products are raising

If the prices of all products are raising at 5 percent per year and your employer gives you a 5 percent salary increase, are you better off, worse off, or equally well off in comparison with your situation a year ago? Use indifference curve analysis ..

  Pink lady apple demand and supply

Pink lady apple demand and supply. Consider all six factors of demand and supply - identify which factors this information might impact. Assume in a perfect competitive market structure, Analyze what would happen in the market place given the finding..

  Justify why the firm should not be charged a per-unit tax

you know that one senator on the Environmental Subcommittee will ask you to justify why the firm should not be charged a per-unit tax on the firm†TM s output to compensate for the pollution it discharges into a major river.

  How much revenue would they raise

If we open up the market to free trade so that the world price dominates, what will be the quantity imported? Suppose the government placed a tariff of $10 per unit imported on this good. How much revenue would they raise?

  Determine the strategy that each firm should choose

In the absence of a binding and enforceable agreement, determine the dominant strategy for AMC. c. Determine the dominant strategy for SAMI. d. If the two firms can enter into a binding and enforceable agreement, determine the strategy that each fi..

  What was the accounting profit for the new business

Tomas quit his job at the Tri-City bank where he earned $50,000 a year to start his own businesses, a bank marketing company. He estimates his entrepreneurial talent or forgone entrepreneurial income to be $5,000 a year. What was the accounting profi..

  Find the internal rate of return and net present value

Top Inc. is interested in developing a new toy. The toys will sell for $25 each and they plan to sell 10 million toys at the end of each year for 4 years. Variable costs are $20 per toy; fixed costs are $10,000,000 per year. If the cost of capital is..

  Give two examples of possible net surpluses

Give two examples of possible net surpluses that three voters get from two possible political alternatives A and B. Construct your first example so that the alternative that wins a majority vote generates the maximum total net surplus. Make your seco..

  Next nominal GDP rises and the GDP deflator falls

From one year to the next nominal GDP rises and the GDP deflator falls. Which of the following exclusions from GDP suggests that GDP is underestimating our material well-being? Full employment is typically associated with:

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