Question
Hello can you help me with these questions? 1.Use a diagram and an accompanying narrative to explain how a perfectly competitive market adjusts to long-run
Hello can you help me with these questions?
1.Use a diagram and an accompanying narrative to explain how a perfectly competitive market adjusts to long-run equilibrium from a position where an individual firm is making a small loss in the short-run.
2. In a narrative explain how a barrier to exit can also considered to be barrier to entry and outline the different types of barrier to exit that can exist in any market.
3. Using a Demand and Supply diagram and an accompanying narrative, outline the effects of a lump-sum tax on companies selling face masks, clearly outlining who ends up bearing the burden of the tax. You should assume that there was previously no taxation in this market.
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