Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Commenting on the shape of the MC curve & describeing the law of dimishing returns.

1.Assume initially all firms that produce a product X in a perfectly competitive market earn normal profit. There is a drop in consumers' preference for X such that the market demand decreases.

(i) What will happen to all the firms in the short run equilibrium? describe with a suitable industry and firm diagram.

(ii) describe how would the firms adjust to the long-run equilibrium also describe with a suitable industry and firm diagram.

2.describe with the aid of a diagram why monopoly is inefficient by tperfect competition is efficient. Is it valid to say that monopoly is no good and hence the government should breaj up all monopolists and convert them into perfect competition.

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M922857

Have any Question? 


Related Questions in Business Economics

Explain how information flows through the layers of the osi

Explain how information flows through the layers of the OSI model?

In a carefully written paper complete the followinglist the

In a carefully written paper, complete the following: List the four components of Gross Domestic Product(GDP) and provide an example of each. Explain how each item affects you and the way that you live today GDP (or GDP ...

What are public goods and services how do these differ from

What are public goods and services? How do these differ from private goods and services? Why can’t public goods and services be provided through market exchange? Give examples to support your answer?

Business cycle1define business cycle and explain the

Business Cycle 1. Define business cycle and explain the concepts of expansion and recession 2. Identify (plot out) using Gapminder World ( https://www.gapminder.org/world/ )the business cycle for the U.S. and any other c ...

When some runners in the new york city marathon hit the

When some runners in the New York City Marathon hit the Queensboro Bridge, temptation sets in and, rather than finishing the last 10 miles through Harlem and the Bronx, they hop a ride on the subway and head toward the f ...

Economics for businesschoose any one topic out of the

Economics for Business Choose any ONE topic out of the following list. • GDP- Compare Australia with any other advanced economy and discuss their GDP last 2 to 5 years and factors affecting their GDP • Unemployment - Dis ...

The market price of pizza in college town decreased

The market price of pizza in College Town decreased recently. Some students in an economics class suggest that the price fell because several new pizza parlors opened for business in the area. Other students attributed t ...

Suppose the market for cars is unregulated that is car

Suppose the market for cars is unregulated. That is, car prices are free to adjust based on the forces of supply and demand. If a shortage exists in the car market, then the current price must be than the equilibrium pri ...

1 stocks a and b both have an expected return of 10 and a

1) Stocks A and B both have an expected return of 10% and a standard deviation of returns of 25%. Stock A has a beta of 0.8 and Stock B has a beta of 1.2. The correlation coefficient, r, between the two stocks is 0.6. Po ...

There are four phases of the business cycle the expansion

There are four phases of the business cycle, the expansion, the peak, the contraction, and the trough. The expansion is the time when real GDP is rising, the peak is when real GD reaches a maximum, the recession is when ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate