Econ 101_Set 3

docx

School

U.E.T Taxila *

*We aren’t endorsed by this school

Course

9

Subject

Economics

Date

Nov 24, 2024

Type

docx

Pages

1

Uploaded by t83729a8

Report
Set 3: Market Structures 1. Compare and contrast the characteristics of perfect competition and monopoly. 2. Calculate the monopolist's profit-maximizing quantity and price if the demand and cost functions are given as follows: Q = 100 - 2P and TC = 50Q. 3. What is price discrimination, and why do firms engage in it? 4. Explain the concept of economies of scale and its relationship to the long-run average cost curve. 5. If a perfectly competitive firm is making a loss in the short run, should it shut down or continue to produce? Explain. Set 4: International Trade 1. What are the benefits of international trade? 2. Explain the difference between absolute advantage and comparative advantage. 3. Calculate the terms of trade given the following information: Country A can produce 10 units of wheat or 5 units of corn, while Country B can produce 8 units of wheat or 4 units of corn. 4. Describe the impact of tariffs on consumer surplus, producer surplus, and total welfare. 5. If a country's currency depreciates, how will it affect its exports and imports?
Discover more documents: Sign up today!
Unlock a world of knowledge! Explore tailored content for a richer learning experience. Here's what you'll get:
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help

Related Documents

MODULO 5.0.pdf
Edited-Historical Phases of Globalization.edited.docx
ECON 201.edited.doc
28.png
Microeconomics Final Milestone-14.pdf
IMG_1112.jpg
Microeconomics Final Milestone-16.pdf
Challenges after Brexit.docx
Screenshot 2023-11-03 at 7.34.36 AM.png
Microeconomics - Milestone 3 (48).pdf
Doc1.pdf
M6_INTERPRETACION_GRAFICA_DE_ESTRUCTURA_DE_MERCADOS_TAREA_6-2.docx
Recommended textbooks for you
Text book image
Microeconomics A Contemporary Intro
Economics
ISBN:9781285635101
Author:MCEACHERN
Publisher:Cengage
Text book image
Microeconomic Theory
Economics
ISBN:9781337517942
Author:NICHOLSON
Publisher:Cengage
Text book image
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,
Text book image
Economics For Today
Economics
ISBN:9781337613040
Author:Tucker
Publisher:Cengage Learning
Text book image
Survey Of Economics
Economics
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Cengage,
Text book image
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
SEE MORE TEXTBOOKS
Recommended textbooks for you
Text book image
Microeconomics A Contemporary Intro
Economics
ISBN:9781285635101
Author:MCEACHERN
Publisher:Cengage
Text book image
Microeconomic Theory
Economics
ISBN:9781337517942
Author:NICHOLSON
Publisher:Cengage
Text book image
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,
Text book image
Economics For Today
Economics
ISBN:9781337613040
Author:Tucker
Publisher:Cengage Learning
Text book image
Survey Of Economics
Economics
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Cengage,
Text book image
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
SEE MORE TEXTBOOKS