Competitive Firms

Part 1

Uber began to trade its stock publicly in early May of 2019. The initial stock price was a bit of a disappointment. Uber had hoped investors would value it at around $100 billion, but they instead valued it Iat closer to $80 billion dollars. One of the reasons that investors may have been wary of Uber could because of friction between the company and some of its drivers.

Don't use plagiarized sources. Get Your Custom Essay on
Competitive Firms
Just from $13/Page
Order Essay

An interesting podcast on the issue:

https://podcasts.google.com/?feed=aHR0cHM6Ly9yc3MuYXJ0MTkuY29tL3RvZGF5LWV4cGxhaW5lZA%3D%3D&episode=Z2lkOi8vYXJ0MTktZXBpc29kZS1sb2NhdG9yL1YwLzNPTDZPc0luVHNpTzZ3cmNmVll6MFNrcTNRQjRxTVNBNjhFUHAtUThIZm8%3D

After listening to the podcast, think about:

What are drivers’ biggest complaints against Uber?
Do you think Uber is likely to “give-in” to the demands of its drivers? Why or why not?
Do you think Uber operates in a competitive market? Why or why not?

Feel free to use other sources as well in your response

Part 2

Vocabulary ( Explain by your own words)

1. Competitive Market

2. Marginal Revenue

3. Profit Maximization

Questions

1. What are the main characteristics of a competitive market?

2. The goal of this question is to learn how to draw a graph of a representative firm making positive economic profit.

a. Draw a label your axes. Be sure to give the graph a title.

b. Draw the ATC, AVC, and MC cost curves. I recommend you draw them in that order. Label the intersection point of MC with AVC. Label the price P_AVC and the quantity q_AVC. Label the intersection point of MC with ATC. Label the price P_ATC and the quantity q_ATC.

i. Will a competitive firm ever choose to produce less than q_AVC? Why?

ii. Will a competitive firm ever choose to produce less than q_ATC? Why?

c. For a firm to make a positive economic profit it must be charging a price that is higher than P_ATC. Draw in a horizontal line at such a price. This is the firm’s marginal revenue curve. Be sure to indicate on the x-axis of your graph how much this firm will produce at that price.

d. Shade in the rectangle on the graph that represents our competitive firm’s profit.

3. If a competitive firm is making a positive profit in a market, predict what will happen to the number of firms in that market and the price of the good in that market in long run. Explain.https://en.wikipedia.org/wiki/Firm_(disambiguation)

Competitive Firms

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

At Acme Writers, we always aim at 100% customer satisfaction. As such, we never compromise o the quality of our homework services. Our homework helpers ensure that they craft each paper carefully to match the requirements of the instruction form.

Professional Academic Writers

With Acme Writers, every student is guaranteed high-quality, professionally written papers. We ensure that we hire individuals with high academic qualifications who can maintain our quality policy. These writers undergo further training to sharpen their writing skills, making them more competent in writing academic papers.

Affordable Prices

Our company maintains a fair pricing system for all academic writing services to ensure affordability. Our pricing system generates quotations based on the properties of individual papers.

On-Time delivery

Acme Writers guarantees all students of swift delivery of papers. We understand that time is an essential factor in the academic world. Therefore, we ensure that we deliver the paper on or before the agreed date to give students ample time for reviewing.

100% Originality

Acme Writers maintains a zero-plagiarism policy in all papers. As such, Acme Writers professional academic writers ensure that they use the students’ instructions to deliver plagiarism-free papers. We are very keen on avoiding any chance of similarities with previous papers.

Customer Support 24/7

Our customer support works around the clock to provide students with assistance or guidance at any time of the day. Students can always communicate with us through our live chat system or our email and receive instant responses. Feel free to contact us via the Chat window or support email: support@Acme Writers.

Try it now!

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Samples

Our writers complete papers strictly according to your instructions and needs, no matter what university, college, or high school you study in.

Categories
All samples
Analysis (any type)
Argumentative essays
Dissertation/Dissertation chapter
Analysis (any type)
Advantages and disadvantages of lowering the voting age to thirteen
Undergrad. (yrs 1-2)
Political science
4
View this sample
Argumentative essays
Is euthanasia ethical or not?
Undergrad. (yrs 3-4)
Nursing
3
View this sample
Dissertation/Dissertation chapter
Videoconferencing as a teaching tool
Undergrad. (yrs 3-4)
Education
10
View this sample

Our Homework Writing Services

Acme Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.

Essays

Essay Writing Services

At Acme Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.

Admissions

Admission and Business Papers

With Acme Writers, we will help you secure a position at your desired institution. Our essay writing services include the crafting of admissions papers. We will still help you climb your career ladder by helping you write the official papers that will help you secure a job. We will guide you on how to write an outstanding portfolio or resume.

Editing

Editing and Proofreading

Acme Writers has a professional editorial team that will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper posses quality and originality.

Coursework

Technical papers

Acme Writers harbors professional academic writers from diverse academic disciplines. As such, we can develop homework writing services in all academic areas. The simplicity or complexity of the paper does not affect the quality of homework writing services.