Long Run Equilibrium (A) Firm and Industry: A competitive market is made up of a large number of firms with complete freedom of entry. Such firms together are called competitive industry. An industry can be defined as a group of firms producing homogeneous products with freedom of entry and exit and which earn only normal profits. Hence the concept of an industry is applicable only under competitive conditions. There is no fixed size of an industry though the analytical stability of an industry
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ceiling create shortage. How to overcome it? According to the book “Economic Theory in the Malaysian Context”‚ the definition of price ceiling is a legally established maximum price a seller can charge. It means that the price is lower than the equilibrium market price and it cannot go above the ceiling price. The reason that government imposes ceiling price on item such as beef‚ flour‚ sugar and many more is because to ensure that consumers are able to buy these goods at a reasonable price thus prevent
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CONCENTRATION - The Tunnel Vision Of Mind. Concentration is the art of being focused at what one is doing without permitting any form of hindrance. It is an essential skill that every individual develops as he/she grows up. It has to be developed by one’s own effort and cannot be injected into one’s mind. Of course‚ at times‚ people may guide them as to how to gain concentration‚ but the key to having full concentration is in our hands.
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Plan a procedure that will allow you to compare quantitavely the glucose concentration in fresh samples of orange‚ lemon and grapefruit juice. Aim: The aim of this investigation is to produce a set of data which will enable comparison of the glucose concentrations of orange‚ lemon and grapefruit juice. Research: Benedict’s Reagent is a mixture of sodium compounds and copper sulphate. The copper ions are reduced by fructose (a reducing sugar) to form copper oxide‚ thus turning it from blue
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During all this‚ concentration camps were being made. A concentration camp is a place where large numbers of people‚ especially political prisoners or persecuted members of a minority‚ are imprisoned in a small area with inadequate facilities‚ sometimes to provide forced labor or to await mass execution. Many of these concentration camps later became death camps for Jews. One of the most infamous concentration camps was Auschwitz because it was the largest of all concentration camps. In these
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Level 2 2010/11 ‘Seller concentration levels are of interest on both theoretical and public policy grounds’. Discuss. Market structure plays an important role in any industry. Examining the market structure is essential for firms to perform well and behave rationally. The key characteristics of market structure include the number and size of firms‚ the existence and height barriers to entry and exit‚ and the degree of product differentiation. Seller concentration refers to the number and level
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discuss how concentration ratios are used to determine total market shares within four specific industries. I will also discuss the levels of competition within those industries and how oligopolies can benefit society. Case‚ Fare‚ and Oster defines concentration ratio as the share of industry output in sales or employment accounted for by the top firms (2009). They are used to measure the total output produced by a certain number of firms within an industry. Four-firm concentration ratios
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Experiment 4 Guide Questions for Discussion Iron-Silver Equilibrium 1. Give the balanced net ionic equation for the reaction between Fe2+ and Ag+. What is the chemical formula of the gray precipitate? Answer: Fe2+(aq) + Ag+ (aq) Fe3+(aq) + Ag (s) The formula of the precipitate is Ag(s). 2. Give the balanced net ionic equation for the reaction of Fe2+ with Fe(CN)63-. a. What is the chemical formula of the Prussian blue precipitate? b. How does
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Concentration Camps in Vienna The Auschwitz concentration camp complex was the largest of its kind established by the Nazi regime. It included three main camps‚ all of which deployed incarcerated prisoners at forced labor. One of them also functioned for an extended period as a killing center. The camps were located approximately 37 miles west of Krakow‚ near the prewar German-Polish border in Upper Silesia‚ an area that Nazi Germany annexed in 1939 after invading and conquering Poland. The SS authorities
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THE EFFECT OF CONCENTRATION ON REACTION RATE INTRODUCTION • Concentration is one factor which has an effect o the rate of a chemical reaction. In chemistry we describe concentration in terms of the number of moles of a substance there are in every cubic decimetre (litre) of solution‚ written as moles.dm-3 of M for short. • In this experiment you will find out how increasing the concentration of the acid solution changes the rate of the reaction between dilute hydrochloric acid and magnesium
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