the characteristics and performance of perfectly competitive firms | ECON 1002 – Microeconomics | Walden University

 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.
Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more