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Market structures

  1. Which market structure(s) will have zero economic profits in the long run?
  2. Which market structure(s) will be a price maker and have barriers to entry?
  3. There are currently 8 firms in a particular market. There firm sales are given in the table

below. What is the four-firm concentration ratio for this industry? Would you classify it as an


Firm Sales

















  1. Although market structures vary widely in their characteristics, what is one common aspect

among all of them? Does your previous answer have any potential calculation?

  1. In the long run, which market structures are likely to have their average cost curve just sit on

top of their demand curve? What does this imply for each market structure? Are there any

differences in the market structures you gave in your previous answer?

  1. What market structure(s) are likely to cause a net loss to societal welfare?

Sample Solution

Rene Descartes: History of Mathematics GuidesorSubmit my paper for investigation picture descartesWe may think about Descartes as the first of the advanced school of arithmetic. René Descartes was brought into the world close to Tours on March 31, 1596, and kicked the bucket at Stockholm on February 11, 1650; along these lines he was a contemporary of Galileo and Desargues. His dad, who, as the name suggests, was of acceptable family, was acclimated with go through a large portion of the year at Rennes when the nearby parliament, where he held a commission as councilor, was in session, and the remainder of the time on his family domain of Les Cartes at La Haye. René, the second of a group of two children and one girl, was sent at eight years old years to the Jesuit School at La Flêche, and of the splendid order and instruction there given he talks most profoundly. By virtue of his sensitive wellbeing he was allowed to lie in bed until late in the mornings; this was a custom which he generally followed, and when he visited Pascal in 1647 he revealed to him that the best way to accomplish great work in science and to protect his wellbeing was never to permit anybody to cause him to find a good pace morning before he felt slanted to do as such; a conclusion which I account to assist any student into whose hands this work may fall. On leaving school in 1612 Descartes went to Paris to be acquainted with the universe of style. Here, through the vehicle of the Jesuits, he made the colleague of Mydorge, and recharged his student fellowship with Mersenne, and together with them he committed the two years of 1615 and 1616 to the investigation of arithmetic. Around then a man of position for the most part entered either the military or the congregation; Descartes picked the previous calling, and in 1617 joined the military of Prince Maurice of Orange, at that point at Breda. Strolling through the avenues there he saw a bulletin in Dutch which energized his interest, and halting the primary passer, requested that he make an interpretation of it into either French or Latin. The more bizarre, who happened to be Isaac Beeckman, the leader of the Dutch College at Dort, offered to do as such if Descartes would answer it; the notice being, actually, a test to all the world to take care of a specific geometrical issue. Descartes worked it out inside a couple of hours, and a warm kinship among him and Beeckman was the outcome. This startling trial of his numerical achievements made the uncongenial existence of the military disagreeable to him, however under family impact and custom he stayed a warrior, and was convinced at the beginning of the Thirty Years' War to chip in under Count de Bucquoy in the military of Bavaria. He proceeded with this opportunity to involve his relaxation with numerical examinations, and was acclimated with date the principal thoughts of his new way of thinking and of his systematic geometry from three dreams which he encountered the evening of November 10, 1619, at Neuberg, when battling on the Danube. He viewed this as the basic day of his life, and one which decided his entire future. He surrendered his bonus in the spring of 1621, and went through the following five years in movement, during the greater part of which time he kept on examining unadulterated science. In 1626 we discover him settled at Paris, "a little all around manufactured figure, humbly clad in green taffety, and just wearing sword and plume in token of his quality as a refined man." During the initial two years there he intrigued himself with regards to general society, and spent his recreation in the development of optical instruments; however these interests were only the relaxations of one who neglected to discover in reasoning that hypothesis of the universe which he was persuaded at last anticipated him. In 1628 Cardinal de Berulle, the organizer of the Oratorians, met Descartes, and was such a great amount of dazzled by his discussion that he asked on him the obligation of dedicating his life to the assessment of truth. Descartes concurred, and the better to make sure about himself from interference moved to Holland, at that point at the stature of his capacity. There for a long time he lived, surrendering all his opportunity to theory and arithmetic. Science, he says, might be contrasted with a tree; mysticism is the root, material science is the storage compartment, and the three boss branches are mechanics, medication, and ethics, these shaping the three uses of our insight, to be specific, to the outer world, to the human body, and to the lead of life. He go through the initial four years, 1629 to 1633, of his stay in Holland recorded as a hard copy Le Monde, which typifies an endeavor to give a physical hypothesis of the universe; yet finding that its production was probably going to welcome on him the antagonistic vibe of the congregation, and wanting to act like a saint, he deserted it: the inadequate composition was distributed in 1664. He at that point dedicated himself to forming a treatise on all inclusive science; this was distributed at Leyden in 1637 under the title Discours de la méthode pour bien conduire sa raison et chercher la vérité dans les sciences, and was went with three informative supplements (which perhaps were not given until 1638) entitled La Dioptrique, Les Météores, and La Géométrie; it is from the remainder of these that the creation of logical geometry dates. In 1641 he distributed a work called Meditationes, in which he clarified at some length his perspectives on theory as portrayed out in the Discours. In 1644 he gave the Principia Philosophiae, most of which was committed to physical science, particularly the laws of movement and the hypothesis of vortices. In 1647 he got a benefits from the French court to pay tribute to his revelations. He went to Sweden on the greeting of the Queen in 1649, and kicked the bucket a couple of months after the fact of aggravation of the lungs. In appearance, Descartes was a little man with enormous head, anticipating temples, conspicuous nose, and dark hair descending to his eyebrows. His voice was weak. In attitude he was cold and narrow minded. Considering the scope of his examinations he was in no way, shape or form broadly read, and he disdained both learning and workmanship except if something substantial could be removed along these lines. He never wedded, and left no relatives, however he had one ill-conceived little girl, who kicked the bucket youthful. As to his philosophical hypotheses, it will be adequate to state that he talked about similar issues which have been bantered for the last 2,000 years, and most likely will be bantered with equivalent enthusiasm 2,000 years consequently. It is not really important to state that the issues themselves are of significance and intrigue, yet from the idea of the case no arrangement at any point offered is able both of inflexible confirmation or of disproof; everything that could possibly be affected is to make one clarification more plausible than another, and at whatever point a savant like Descartes accepts that he has finally at long last settled an inquiry it has been workable for his successors to call attention to the error in his suppositions. I have perused some place that way of thinking has consistently been predominantly drawn in with the between relations of God, Nature, and Man. The most punctual logicians were Greeks who involved themselves essentially with the relations among God and Nature, and managed Man independently. The Christian Church was so caught up in the connection of God to Man as completely to disregard Nature. At long last, present day scholars concern themselves predominantly with the relations among Man and Nature. Regardless of whether this is a right verifiable speculation of the perspectives which have been progressively common I couldn't care less to talk about here, yet the announcement with regards to the extent of present day theory denotes the restrictions of Descartes' works. Descartes' main commitments to arithmetic were his logical geometry and his hypothesis of vortices, and it is on his examines regarding the previous of these subjects that his numerical notoriety rests. Systematic geometry doesn't comprise just (as is once in a while inexactly said) in the utilization of variable based math to geometry; that had been finished by Archimedes and numerous others, and had become the standard technique for method underway of the mathematicians of the sixteenth century. The extraordinary development made by Descartes was that he saw that a point in a plane could be totally decided whether its separations, state x and y, from two fixed lines drawn at right edges in the plane were given, with the show recognizable to us with regards to the translation of positive and negative qualities; and that however a condition f(x,y) = 0 was uncertain and could be fulfilled by an unending number of estimations of x and y, yet these estimations of x and y decided the co-ordinates of various focuses which structure a bend, of which the condition f(x,y) = 0 communicates some geometrical property, that is, a property valid for the bend at each point on it. Descartes declared that a point in space could be likewise controlled by three co-ordinates, yet he limited his thoughtfulness regarding plane bends. It was on the double observed that so as to explore the properties of a bend it was adequate to choose, as a definition, any trademark geometrical property, and to communicate it by methods for a condition between the (current) co-ordinates of any point on the bend, that is, to make an interpretation of the definition into the language of logical geometry. The condition so acquired contains verifiably every property of the bend, and a specific property can be derived from it by customary variable based math without upsetting about the geometry of the figure. This may have been faintly perceived or foreshadowed by before journalists, yet Descartes went further and called attention to the significant realities that at least two bends can be alluded to one and a similar arrangement of co-ordinates, and that the focuses in which two bends meet can be dictated by finding the roots normal to their two conditions. I need not go further into subtleties, for about everybody to whom the above is comprehensible will have perused scientific geometry, and can value the estimation of its innovation. Descartes' Géométrie is isolated into three books: the initial two of these treat of investigative geometry, and the third incorporates an examination of the polynomial math then current. It is

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