Determines price and output in the long run, Microeconomics

Assignment Help:

Problem 1:

(a) Differentiate between positive and negative externalities? Justify your answer using examples.

(b) To what extent do government policies influence externality?

Problem 2:

(a) Explain how in economic theory a perfectly competitive firm determines price and output in the long run.

(b) ‘A monopolist is inefficient as compared to a perfectly competitive firm'. Discuss.


Related Discussions:- Determines price and output in the long run

Cost considerations for managers, Some Cost Considerations for Managers ...

Some Cost Considerations for Managers * Three guidelines for estimating the marginal cost(MC): 1) Average variable cost should not be used as substitute for the marginal cost(

General equilibirium, What is the theory of second best? Prove the theorem ...

What is the theory of second best? Prove the theorem with the help of a diagram

Demand, what is ment by demand

what is ment by demand

Economics, Calculate point elasticity of demand for demand function Q=10-2p...

Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2

Microeconomics, Five identical people live in a small town and can earn a l...

Five identical people live in a small town and can earn a living either by having cattle $100 or by becoming a singer. If one person competes their expected payment is 210, if two

Production process, Production Process: Production is a process that t...

Production Process: Production is a process that transforms factors of production or inputs into output of goods and services. Production may be classified into extraction, ma

Microeconomics, Define the concept of cross elasticity of demand

Define the concept of cross elasticity of demand

#titlwhat is the second best?, what is the second best?prove the theorem wi...

what is the second best?prove the theorem with the help of a diagram?

Write Your Message!

Captcha
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