--%>
Assignment Help - homework help

Economic idea of pure competition

The market circumstances most intimately conforming to the economic idea of pure competition would be as: (w) a broccoli farmer and the national market for broccoli. (x) your local cable company and the consumer market for cable TV. (y) Nissan vs. GM vs. Ford vs. Chrysler vs. Toyota vs. _._._ within the auto market. (z) Snapple and Aquafina into the bottled drink market.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Earning zero economic profit Within a

    Within a monopolistically competitive industry along with no barriers to entry, long run equilibrium will be reached along with the firms into the industry: (1) maximizing total revenue. (2) producing their most efficient outputs. (3)

    		•
  • Q : Problem on equilibrium market price I

    I have a problem in economics on equilibrium market price. Please help me in the following question. The equilibrium market price subsists only if: (1) Quantity demanded equivalents the quantity supplied. (2) Surpluses exceed the shortages. (3) Expert

    		•
  • Q : Problem based on type of economy Tell

    Tell me the answer of this question. Economists would describe the U.S. automobile industry as: A) purely competitive. B) an oligopoly. C) monopolistically competitive. D) a pure monopoly.

    		•
  • Q : Output produced by profit maximizing

    A profit maximizing monopolist produces output where: (i) MR = MC as long as the corresponding price exceeds average variable costs [P>AVC]. (ii) marginal revenue minus marginal costs [MR - MC] is maximized. (iii) price minus average cost is maximi

    		•
  • Q : Price elasticity of demand when price

    The Hobbit family buys 72 vegetarian specials yearly at a price of $3.00 each but would consume 192 yearly when the price dropped to $2.40. Therefore their price elasticity of demand is: (w) 4.09. (x) 2.05. (y) 6.15. (z) 0.26.

    Q : Earning income within negative income

    Under the negative income tax system demonstrated in this figure, a family of four along with no earned income would have a net as after-tax, the income of: (1) $15,000 per year. (2) $10,000 per year. (3) $5,000 per year. (4) $2,500 per year. (5) $0 p

    		•
  • Q : Characteristics of purely competitive

    Characteristics of purely competitive markets do not comprise: (w) homogeneous products. (x) large numbers of potential buyers. (y) large numbers of potential sellers. (z) the capability of sellers to set prices. I

    		•
  • Q : Equilibrium interest rates on financial

    Equilibrium interest rates on different financial securities tend to be negatively associated to: (1) the time remaining until an asset matures. (2) default, exchange rate, and interest rate riskiness of an asset. (3) liquidity. (4) savers’ time

    		•
  • Q : Wage Rate and Exploitation problem

    Assume that a firm possessesing both monopsony power as the employer and market power in its output market, however that can neither wage neither discriminate nor price discriminate. In equilibrium, in its labor market for workers, of the given variables the lowest va

    		•
  • Q : Define production function Production

    Production function: This refers to the functional relationship among inputs and outputs.

    		•