Homework #1 - A perfect competitive market does not reflect...

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- ECON 5136- Dr. Murasko - Student: Lam Pham - ID: 1033224 HOMEWORK #1 CHAPTER 01 1. Problem #1( p.15 in text) I think 3 markets that are imperfectly competitive are : - Communications - Airline - Automobiles The above industries are imperfectly competitive because they require big entry costs, large network and have effects from Government. 2. Problem #1( p.15 in text)
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Unformatted text preview: A perfect competitive market does not reflect a setting of strategic interaction because in this market each firm is a price-taker and must accept the market price. In addition, each firm makes a production decision based on the market price. CHAPTER 02 3. Problem #1(p.42 in text) Derive D...
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This note was uploaded on 06/25/2011 for the course DSCI 5431 taught by Professor Miles,c during the Summer '08 term at UH Clear Lake.

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Homework #1 - A perfect competitive market does not reflect...

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