Firms in Competitive Markets
Über den Vortrag
Der Vortrag „Firms in Competitive Markets“ von James DeNicco ist Bestandteil des Kurses „Principles of Microeconomics (EN)“. Der Vortrag ist dabei in folgende Kapitel unterteilt:
- Definition of a Competitive Market
- Profit Maximization in Competitive Markets
- Short Run Decisions to Shut Down
- Long Run Decisions to Exit
- Recap
Quiz zum Vortrag
Which of the following statements is true about competitive markets?
- Many buyers and sellers trading identical products so that each buyer and seller is a price taker.
- Many buyers and sellers trading identical products so that buyers and seller have market power and can set prices.
- Many buyers and sellers trading different products so that each buyer and seller is a price taker.
- Many buyers and sellers trading different products so that buyers and seller have market power and can set prices.
When a firm maximizes profits in a competitive market it is always the case that...
- ... price = average revenue = marginal revenue = marginal cost.
- ... price > average revenue = marginal revenue > marginal cost.
- ... price = average revenue > marginal revenue = marginal cost.
- ... price = average revenue > marginal revenue > marginal cost.
In the short run firms shut down if the price is less than _______________, but in the long run they exit if price is less than _______________.
- average variable cost ; average total cost
- average total cost ; average variable cost
- average total cost ; average total cost
- average variable cost ; average variable cost
Dozent des Vortrages Firms in Competitive Markets
James DeNicco
Dr. DeNicco graduated from Drexel University in 2013. His primary field is Macroeconomics and his secondary field is Industrial Organization. His primary research interests are in Macroeconomics and applied Macroeconomics, especially the relationship between GDP growth and labor dynamics.
His focus is on jobless recovery, which explores the speed of recovery in unemployment rates post recession, controlling for GDP growth. He is currently an Assistant Professor at the University of Tampa, where he teaches both Macroeconomics and Microeconomics.
Dr. DeNicco also does work as a Research Associate for the Center for Labor Markets and Policy. In that role he has conducted extensive work with BLS and BEA data regarding estimation and forecasting techniques used by the Massachusetts Governor’s Office and the Rhode Island Department of Labor.
In addition, he collaborates on research identifying the determinants of successful transitions from high school to college and persistence in college, with the goal of identifying major transition barriers needing either program or policy intervention.
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