The World of Imperfect Competition 

Read: Chapter 11: The World of Imperfect Competition

Principles of Economics by Libby Rittenberg and Timothy Tregarthen.

Introduction to Economic Analysis, pp. 234 – 242.

Part 1

Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by:q = 60 − (1/2)p, where q is quantity sold per week.The firm’s marginal cost curve is given by: MC = 60.

  1. How much will the firm produce in the short run?
  2. What price will it charge?

In addition to providing the quantitative answers for the question, please also describe the approach you used to arrive at your conclusions.

Chapter 20: Macroeconomics: The Big Picture

Part 2

Suppose an economy has 10,000 people who are not working but looking and available for work and 90,000 people who are working. What is its unemployment rate?

Now suppose 4,000 of the people looking for work get discouraged and give up their searches. What happens to the unemployment rate? Would you interpret this as good news for the economy or bad news? Explain.

Part 3

Although not explicitly mentioned in Chapter 20, John Maynard Keynes is considered a foundational source in the understanding of macroeconomics. After performing research outside the textbook, please explain in three well-structured paragraphs the basic principles of the New Keynesian Economics and how it addresses perceived limitations to classic Keynesian theory.

Cite any references used in apa format.

Hide 

Files: Principles Of Economics Chapter 20.pdf, Principles Of Economics Chapter 11.pdf
Scroll Below to View Our Previous Reviews

Calculate the price of your order

Continue with Order
Continue with Order
Continue with Order
Continue with Order

Simple Order Process

Fill in the Order Form

Share all the assignment information. Including the instructions, provided reading materials, grading rubric, number of pages, the required formatting, deadline, and your academic level. Provide any information and announcements shared by the professor. Choose your preferred writer if you have one.

Get Your Order Assigned

Once we receive your order form, we will select the best writer from our pool of experts to fit your assignment.

Share More Data if Needed

You will receive a confirmation email when a writer has been assigned your task. The writer may contact you if they need any additional information or clarifications regarding your task

Let Our Essay Writer Do Their Job

Once you entrust us with your academic task, our skilled writers embark on creating your paper entirely from the ground up. Through rigorous research and unwavering commitment to your guidelines, our experts meticulously craft every aspect of your paper. Our process ensures that your essay is not only original but also aligned with your specific requirements, making certain that the final piece surpasses your expectations.

Quality Checks and Proofreading

Upon the completion of your paper, it undergoes a meticulous review by our dedicated Quality and Proofreading department. This crucial step ensures not only the originality of the content but also its alignment with the highest academic standards. Our seasoned experts conduct thorough checks, meticulously examining every facet of your paper, including grammar, structure, coherence, and proper citation. This comprehensive review process guarantees that the final product you receive not only meets our stringent quality benchmarks but also reflects your dedication to academic excellence.

Review and Download the Final Draft

If you find that any part of the paper does not meet the initial instructions, send it back to us with your feedback, and we will make the necessary adjustments.