Output Decisions in Perfect Competition

Related BrainMass Solutions

• Characteristics of the Various Market Structures

  How is marginal analysis used in the price and output decisions of firms in the various market structures? In a Microsoft Excel document, address each of the questions above, using text boxes for narratives.

• Market Structures

  In addition to the model used in the simulation, what other strategies might govern how one competitor reacts to another's price and output decisions?

• Marginal Revenue, Marginal Cost , Maximum Profit Rule

  output in imperfect, but not necessarily in perfect competition.

• Monopoly and oligopoly

  Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition?

• Regulating perfect competition with externalities

  240304 Regulating Perfect Competition with Externalities 1.A firm is producing output in a competitive market, where demand is P = 24 - 2Q The marginal private cost of production is equal to $4 and the marginal social cost is $2.

• Pricing and output decisions - Monopoly and Perfect competition

  621982 Pricing and output decisions - Monopoly and Perfect competition Your consulting firm was just granted an exclusive contract for your state.

• Summarizing the content of market structure simulation

  However because of the downward sloping demand curve, this output level is less than would be produced under perfect competition. Like the competitive firm, the monopoly's output rule is MR=MC.

• Mathematical economic solutions via lagrange method and algebra

  In the third I determine the output and price decisions of a monopolist producing two goods and find elasticity of demand given demand functions and cost functions.

• Perfect vs imperfect competition

  a) In perfect competition, if a firm that changes the quantity it sells, this does not affect prices. In imperfect competition, a firm can change prices by changing its output.

• Calculating optimal output, price and consumer expenditure

  Total consumer expenditure in case of perfect competition=Price*Output=10*250=$2500 Total consumer expenditure in case of monopoly=Price*Output=16*200=$3200 Solution describes the steps to calculate optimal price, output and consumer expenditure in case