Monthly Archives: January 2011

Possible Theory of the Firm Question

2007 November <Paper 1>: Explain the difference between short-run equilibrium and long-run equilibrium in monopolistic competition. “Perfect competition is a more desirable market form than monopolistic competition.” Discuss. <Paper 2>: With the help of a diagram, explain when a firm … Continue reading

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Reflection: Market Structure

After we finished with gaining our knowledge of the four different market structures, monopoly, monopolistic competition, oligopoly, and perfect competition, there are several things that were interesting to me. One thing that stood out was that each market structure had … Continue reading

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Portfolio Semester 1

Definitions & Diagrams: Section 1 Introduction Market Elasticity Theory of the Firm Evaluation: Champagne Data Response Collaboration: Tennis Ball Game Activity Reflection: IB Assessment Reflection Data Response Reflection Improvement: Key Concept Article to Ugg Boots Article Showcase: Diagram Test

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Diagram Test

Q. McDonald hamburgers have become the new fast food of choice for young affluent Asians. How will this event impact the market? If McDonald hamburgers become the new fast food of choice for young affluent Asians, the demand curve will … Continue reading

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Champagne Data Response

Read the article here Part A i) Demand: quantity of a good or service a consumer is willing and or able to buy at a certain price at a certain time period. ii) Supply: quantity of a good or service … Continue reading

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Theory of the Firm

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Elasticity Summary

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