Recent Question/Assignment
Microeconomics – Worth 20% of total assessment: Answer all five (5) of the following questions.
Each question is worth equal marks and will be marked out of 10.
The total mark is 50 and will then be converted to a make it worth 20 percent
References are required.
Question 1
Explain the relationship between the law of diminishing returns and the concept of economies of scale.
Question 2
Explain with the use of diagrams where appropriate how perfect competition leads to allocative productive and dynamic efficiency.
Question 3
Illustrate with the use of diagrams how the profit maximising price and outpur for firms in a monopolistic competitive market structure is determined.
Does the fact that monopolistically competitive markets do not achieve allocative or productive efficiency mean that there is a significant loss in economic well-being to society in these markets?
Question 4
What is a natural monopoly? If a firm is a natural monopoly, illustrate with the use of diagrams why is it is necessary to have the price set by a regulatory authority rather than by the market.
Question 5
Petro prices recently plummeted, discuss some of the reasons behind this development.
Each question is worth equal marks and will be marked out of 10.
The total mark is 50 and will then be converted to a make it worth 20 percent
References are required.
Question 1
Explain the relationship between the law of diminishing returns and the concept of economies of scale.
Question 2
Explain with the use of diagrams where appropriate how perfect competition leads to allocative productive and dynamic efficiency.
Question 3
Illustrate with the use of diagrams how the profit maximising price and outpur for firms in a monopolistic competitive market structure is determined.
Does the fact that monopolistically competitive markets do not achieve allocative or productive efficiency mean that there is a significant loss in economic well-being to society in these markets?
Question 4
What is a natural monopoly? If a firm is a natural monopoly, illustrate with the use of diagrams why is it is necessary to have the price set by a regulatory authority rather than by the market.
Question 5
Petro prices recently plummeted, discuss some of the reasons behind this development.
Looking for answers ?
Recent Questions
Program: Master of Information SystemsAssessment 1: Portfolio 1 (Session 2 Topic: Input, Processing andOutput) Semester 2: Block 8-2024Course Code: MBIS4003 Course Title: Software Development Total Marks:...AssessmentAssessment item 2—Assignment 2Due date 11:45pm on Sunday, 24Nov.2024Weighting 35%Length Not applicableObjectivesThis assessment item relates to the unit learning outcomes numbers 1, 2 and 3 as...Plan, construct and write a long-form essay on a particular area of media research that interests you. Using an established theoretical framework, explain how your research offers new insights into the...DescriptionIn this assessment, you are required to demonstrate that you understand how an Older Adult can develop mental health problems associated with cognitive decline leading to cognitive impairment...School of Engineering, Design and Built EnvironmentENGR7008 Fire Engineering Design and AssessmentAssignment 4: Peer Review of Fire Engineering ReportASSIGNMENT 4PEER REVIEW OF A FIRE ENGINEERING REPORTSee...Structural Analysis Etask 5The aim of this assessment task is to evaluate the appropriate use of the Force Method and Moment Distribution Method for structural analysis• Please download the eTask4 from...Purpose:The purpose of this task is for the student to demonstrate how to create a holistic plan of care that is person-centred, trauma-informed, and recovery-oriented in focus.Description:In this written...Show All Questions