Scarcity/Supply/Demand/Equilibrium

Could you identify and describe the concepts of scarcity and opportunity costs. Also, explain the laws of supply and demand and how they are related to the concepts of scarcity and opportunity costs in decision-making. Finally give me something other then a text book definition on market equilibrium and explain how it is determined.

You have been hired to manage a small manufacturing facility which has cost and production data given in the table below.

Don't do 6 or 9. See attached file. Q-3 Input Factors You have been hired to manage a small manufacturing facility which has cost and production data given in the table below. Total Total Workers Labor Cost Output Revenue 1 $500 100 $700 2 1000 280 1150 3 1500 440 1440 4 2000 540 1570 5 2500 600 1670 6 3000 630 1710 7 3500 640 1730... click for more

Entry into Monopoly

Suppose a company LCD has been operating under a monopoly with large profits for many years. Another company BC (with no quality or cost advantage) plans to enter the market. Assuming that the countries can talk to each other and know each other's moves; What would the pricing outcome be? What would happen to LCD's profits and what would determine BC's profits? Now assuming these two companies couldn't talk to each other; what would be the effect of the game on the Price and profits of the two companies? What does the format of this analysis pertain to?

Differentiating between Market Structures

Need some assistance in summarizing the content of this simulation according to the following questions: (at least 700 words) 1. What are the advantages and limitations of supply and demand identified in the simulation 2. Select an organization and identify the market structure for the organization. 3. Analyze how organizations in each market structure maximize profits. See attachment to view simulation. (Editor's note: simulation cannot be viewed using this attachment)

Industry structure is often measured by computing the Four-Firm Concentration Ratio. Suppose you have an industry with 20 firms and the CR is 20%.

Industry structure is often measured by computing the Four-Firm Concentration Ratio. Suppose you have an industry with 20 firms and the CR is 20%. How would you describe this industry? Suppose the demand for the product rises and pushes up the price for the good. What long-run adjustments would you expect following this change in demand? What does your adjustment process imply about the CR for the industry? Now consider that the industry has 20 firms but the CR for the industry is 80% instead of 20%. How would you describe this industry? What are some reasons why this industry has a high CR while the other industry had a low CR? Is it possible for smaller firms to thrive and profit in such a... click for more