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Assignment:
Page 290 & 290 of Parkin’s 12th Edition of Microeconomics discusses perfect competition in iPhone app market.
Discuss:
1. Explain how the iPhone app market can be explained by the perfectly competitive model?
1. Explain how marginal cost, marginal revenue and average total cost influence developer decisions.
1. What happens to economic profit when the market for apps reaches equilibrium?
Make sure that you:
1) Introduce your topic.
2) Answer the questions.
3) Conclude and summarize your thought(s) on the subject.
roxanne_
homework_8_due_november_14th.docx
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