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- Be able to apply these concepts to all of the market structures: 1. Economically Efficient 2. Productively Efficient 3. Allocatively EfficientExplain how organizations can collude to raise prices of products like sugar using the concept of market forces.Discuss how the presence of middlemen affects the operation of competitive markets.
- 3) As the owner of a new fast-food enterprise seeking a loan from a bank to finance the construction and operation of three new store locations, you have been asked to provide the loan officer with a brief analysis of the competitive environment in fast food restaurants. Draw a five forces diagram for the fast-food industry and briefly discuss the nature and strength of each of the five competitive forces.A Gain from Trade occurs when a unit is sold for a price greater than the unit of the good is worth to a seller and, simultaneously, bought for a price less than the good is worth to a buyer. Consider the first 2 units of the good that would be sold in this market (the vertical red line on the graph). Which answer choices are correct? If Kai and Mint sold one unit each to Gob and Yam at a price of $6, the trade would be mutually beneficial. At a price of $6, Gob would benefit by $3 because she is paying $6 for a unit of the good which is worth $9 to her. At a price of $6, Kai would benefit by $4 because she is getting $6 for a unit of the good which is worth $2 to her. For the first 2 units of the good there is potential gain from trade of $7 for each of the 2 units. For the first 2 units of the good sold the difference between the value to buyer and seller is $9 each. This means there is a potential gain from trade of $9 per unit. If the first 2 units of the…Using the Surplus Approach, describe how tendencies for concentration emerge from the regular functioning of competition between capitalist firms.
- Explain why any imperfect market structure is one of the sources of market failures. Give an example by showing graph/calculation and descriptions.In your own words/don't copy from the internet write 800 word How do firms contribute to the efficiency of the market economy in ways that networks of independent contractors do not? Use your organization, or one with which you are familiar, to illustrate your response.Please help me solve part b,c and d of this question. Also, solve all the surpluses using by mentioning them in the graph (and use integration).
