Friday
April 25, 2014

Homework Help: Econ

Posted by Sara on Thursday, April 29, 2010 at 12:31am.

"How does the price and output behavior of a price-searcher compare with that of a price-taker? Be sure to explain your answer fully and illustrate with the appropriate diagrams. What are the implications of this for both allocative efficiency and technical efficiency? Again, use diagrams to illustrate where appropriate."


I am very comfortable with understanding the concepts of "price seeker", "price taker", "technical efficiency", and "allocative efficiency", however I don't know how price seeking/taking behaviors affects technical allocative efficiencies?

I'm not sure how the two relate? Can anyone assist? Thanks!

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Econ MC - Externalities cause markets to a. fail to allocate resources ...
Microecon help - How would the following affect the equilibrium price and ...
managerial econ - As manager of Citywide Racquet Club, you must determine the ...
Economics - What do you think are the pluses (advantages) and minuses (...
Economics - What do you think are the pluses (advantages) and minuses (...
econ - 12. A monopolist faces a constant marginal cost of $1 per unit. If at ...
Math - A house cost $85,000. The price of the house will raise 5% each year. If...
ECON - The demand curve for haircuts at Terry’s Hair Design is P=20-0.20Q Where ...
Microeconomics - CompStrat Corporation’s total cost function (where TC is total ...
micro economics - 1) Assume that the gold-mining industry is competitive. a) ...

Search
Members