09 Jul The Characteristics and Performance of Perfectly Competitive Firms
Question Description
The Characteristics and Performance of Perfectly Competitive Firms
Although very few industries meet every characteristic of perfect competition, the perfectly competitive model is important because it sets the standard for efficiency that is used to measure performance in other industries. The extent to which an industry fails to meet the criteria for perfect competition is an indicator of how much it fails to efficiently use and allocate resources.
In this Discussion, you will identify an industry and one or more of its characteristics that fail the test of perfect competition. You will explain the implications in terms of output and pricing decisions.
To prepare for this Discussion:
Review this week’s Learning Resources, focusing in particular on the information on perfectly competitive industries and how firms behave in them.
Think of an industry that has several characteristics of perfect competition—but not all of them.
Review the Academic Writing Expectations for 1000-Level Courses, provided in this week’s Learning Resources.
By Day 3
Post a 150- to 225-word (2- to 3-paragraph) explanation of perfect competition at the industry level. In your explanation, do the following:
Describe your selected industry, and identify characteristics of the industry that are consistent with the definition of perfect competition and those that are not.
Explain how the industry’s cost structure affects pricing decisions, entry, and exit. Specifically, how similar do you think a firm’s pricing and output decisions would be compared to a perfectly competitive industry?
To support your response, be sure to reference at least one properly cited scholarly source.
Refer to the Week 3 Discussion Rubric for specific grading elements and criteria. Your Instructor will use this grading rubric to assess your work.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.