Regulations: – This assignment is an individual assignment to be submitted in a word file. – Students are encouraged to use their own words. – Students must follow academic writing standards and APA s
- This assignment is an indivisible assignment to be submitted in a expression refine.
- Students are encouraged to use their own expressions.
- Students must supervene academic consortment standards and APA mode guidelines.
- Food your acquiescence after a while road esthetic concepts, principles, and theories from the textbook, along after a while at lowest two versed, peer-reviewed chronicle doctrines for each topic.
- A token of zero is awarded for any acquiescence that includes unoriginal from other instrument after a whileout becoming referencing it.
- Write at lowest 9 pages in diffusiveness, excluding the designation page and required relation page. Note: For all your rejoinders food your views/opinions after a while at lowest two to three versed relations, and a expression compute at lowest of 500 expressions for each rejoinder.
- Write rejoinder under each topic.
- It is strongly encouraged that the student submits his/her assignment into the Safe Assignment Originality Check Plagiarism anteriorly sending it to your schoolmaster for grading.
- Plagiarism less than 10%.
Q1. Firms in oligopoly must always reckon in conditions of how other firms in the activity succeed recoil to whatever they do. Why do they accept to do this? Why is it that firms in infallible rivalry and in preoccupancy don’t accept to plague about how other firms succeed recoil? (5 Marks)
Q2. Governments are regularly tempted to conduct-in worth ceilings in tokenets. Use an issue to expound why this is not such a good-natured-natured proposal, at lowest when tokenets are competitive. Give some proposals as to what the synod could do instead in enjoin to succor consumers in these tokenets. (5 Marks)
Q3. If infalliblely competitive firms are worth takers, and monopolistic, monopolistic competitive, and oligopolistic firms are worth searchers, then it supervenes that three times as divers firms in the actual universe are worth searchers than are worth takers. Do you consort or vary? Expound your rejoinder. (5 Marks)
Q4. Critically excite the superveneing assertion after a while views of your own:
“There is no supply for an airline pilot: Someone has to fly the flatten. Therefore, an acception in the wage of airline pilots succeed not alter the reckon of pilots used by the promptitude.”(5 Marks)
Learning Resource: Chapters 7, 8 & 10 of the Text Book O’Sullivan, A., Sheffrin, S. M., & Perez, S.J. (2014).Survey of Economics: Principles, Applications, and Tools. (6th).Upper Saddle River, NJ: Pearson Education. Print version: ISBN-10: 0-13-294885-0 or ISBN-13: 978-0-13-294885-2.Digital version: ISBN-13:978-0-13-13-9370-7.