In: Economics assignment help


The perfectly competitive model Vs the monopolistic model !

A monopolistic model and a perfectly competitive model are economic presentation of two different market structure that can be differentiated on the basis of market share, control over the price and barriers to entry in the market. In a perfectly competitive market model, there are a huge number of firms and no single firm has a proper control over the market (Taylor, Stonebarger & Leven, 2015). Contrary to the perfectly competitive model, a monopolistic market model comprises of only a single firm that decides the price, supply level of goods and has a total control over the market. However, a monopolistic…


Comparing Perfectly competitive model with the monopolistic model!

Market is a place where buyers & sellers meet for some kind of transaction. There are three different types of market structure perfect competition, monopoly and imperfect competition. Perfectly Competitive – In perfect competition the product sold by different firms is identical. It’s a market structure where there are various sellers who offer similar products or services which are manufactured by using a standard method and every firm has details about the market as well as price. The entry and exit to a perfectly competitive market is free and in this situation the competition is at its peak. In this case the firms are…


The concept of elasticity explaining how the economics is the way of life !

            Elasticity is also an important concept that plays a vital role in every day activity. Elasticity as a concept is defined as the extent to which the demand or even the supply of a particular product changes at a given time to the change in price. A product is considered to be highly elastic if its consumers become highly sensitive to the price once it increases or decreases, and the change in price has an immediate impact on the quantity demanded (Imbs and Mejean 2015). For example, when the price of Coca Cola increases, the…


The concept of equity and efficiency explaining how the economics is the way of life !

            Economics is definitely the way of life as it deals with the important concepts of equity and efficiency. While optimum production as well as allocation of resources is important for the advancement of any economy, ensuring that the resources are being equally distributed amongst the all is equally important. By ensuring equity, the government does ensure that it does take steps to reduce the problems of absolute property whereby each individual has some resources to live with. For example, usually the government ensures that the richer who enjoys greater allocation of resources pays a higher…


The concept of demand and supply explaining how the economics is the way of life !

Economics is definitely the way of life as it helps in ensuring the proper allocation of resources and ensures that these resources do not become scarce in the face of heavy demand. The concept of demand and supply have always been found to be extremely integral to any sort of economic activity performed daily by humans. According to the law of demand, there exists an inverse relation between the price of a product and the quantity demanded. In other words, if the price of a good is higher, the demand for the good will naturally decrease while if the demand of…



Subject – MACRO ECONOMICS TASK DESCRIPTION: For the Australian economy Comment on its fiscal performance over the period of last twelve years about 300 words. [5 marks] Critically analyze the reasons for this performance about 1200 words [10 marks] What are the major challenges Australia faces in bringing the budget back to surplus  in about 500 words. [5 marks] GRADING GUIDE The following factors will be taken into account in grading your work: The depth of your reading and understanding of the topic. At this level of study you are expected to read widely, and obtain more than just a superficial knowledge of the subject matter. Your ability to understand…


Principles of Economics: ECON11026

Assessment Item 2 – Short Answer Questions Length: Approximately 1500-2000 words (Approx. 400-500 words for each question, excluding graphs, tables and reference list) Question 1: Refer to Chapter 6- Imperfect Competition (a) Explain with real life examples and illustrate short-run profit maximizing situation under (i) monopolistic and (ii) dominant firm price leadership under oligopoly. (1.5 marks each= 3 marks) (b) Define, illustrate and explain with examples the method of price discrimination used by (i) airlines and (ii) cinema industry in Australia. (2 marks each=4 marks) Question 2: Refer to Chapter 7- Market Failure and Government Policy (a) Assume that a firm discharges waste…


Economics Assignment : Short Answer Questions

Assessment item 1 Value: 10% Length: Approximately 500 words Submission method options Alternative submission method Task Assignment 1 consists of two short answer questions (worth 5 marks each) based on Text material. Before attempting this assignment you are expected to have read Text chapters 1, 2, 3 and 4. Sources used in your answer should be fully referenced in APA 6th style. Answer the following questions ensuring that you apply economic principles or theory related to (a) the concepts of supply and demand for Question 1 and (b) the concepts of specialisation and exchange for Question 2 to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and…



Assessment 2: Research Essay 30 marks Length 3,000 words Please note that this question requires substantial research (see the assessment criteria below). (a)  Critically compare and contrast the characteristics of four market structures (ie. monopoly, oligopoly, perfect competition or monopolistic competition) regarding the allocation of resources. Provide a real life example of each market structure. (16 marks) In answering this question you need to Discuss the key features of each market structure such as number of sellers, type of product, entry conditions. Using diagrams, explain short run and long run profits and losses in four market structures. Compare the allocation of resources in monopoly, oligopoly and…


ECO5000 Assessment : Economics for Managers !

Assignment 1 Three Short Answer Questions/Problems Content Coverage: Module 1 (Weeks 1 to 3) Due: Monday 7 August 2017 at 12 midnight (USQ time) Value: 15%   Instructions A cover page will go at the front of your assignment submission. It must contain the following information at a minimum: Name (in full), USQ student number. The answer to each question shall have a maximum length of one (1) A4 page, font size 12. Content which goes over the one page limit per question will not be marked. Each question shall be marked out of five (5) – content 4.5, research, presentation,…

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