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Q: What are three short-run outcomes in the perfect competition?
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Q: What are the advantages of pure competition?
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Q: What is pure or perfect competition? Define and discuss.
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Q: Price = $20, quantity = 400 units, unit cost = $15,implicit costs $ = 4,000. What does economic…
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Q: When will a business shut-down in the short-run?
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Q: Can you explain what is Perfect Competition and how does Perfect competition work?
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Q: Explain market conditions in the long run
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Q: Explain what so special about perfect competition
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
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Q: Comparison between Pure competition and the perfect competition in market structure of the economy?
A:
Q: What does perfect competition mean and what are the concepts of it?
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Which 'Economies of Scale' creates imperfect competition and Why?
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- In 175 words describe the following: Scale Economies, Imperfect Competition, and TradeFamily Mart like inner city grocery stores, sometimes exist even though they do not earn economic profits. How can you explain this? It is clear that businesses operate in the short run, but do they ever operate in the long run? Discuss. What are the different type of costs incurred in the short run and in the long run?Which stage of short run production is efficient? Why?
- what are the inefficiencies of an imperfect competition ? what are the benefits of having a increasing competition accross varies sectors?Should the Marginal revenue exceed the marginal cost? Why?Define economies of scale and explain why they might arise. Define diseconomies of scale and explain why they might arise.