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    SOLVED ECO401 GDB 1 Solution and Discussion

    ECO401 - Economics
    eco401 gdb 1 solution discussion fall 2019
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    • zareen
      zareen Cyberian's Gold last edited by

      Total Marks 5
      Starting Date Friday, November 15, 2019
      Closing Date Thursday, November 21, 2019
      Status Open
      Question Title Government’s Role in Price Determination & Equilibrium Analysis
      Question Description

      CASE:

      Governments get involved in agricultural output markets to stabilize prices of agricultural goods so that producers get reasonable prices. Pakistan’s agriculture sector recorded a slow growth rate of 0.85 percent during the last fiscal year (2018-19). It’s very important to enhance agricultural production to increase farmers’ income, imports reduction and to expand export base of the country. The National Agriculture Emergency Program plans to spend Rs.290 billion in the next five years to boost the sector. The program will be implemented with the coordination of all provinces to improve productivity of major crops i.e. wheat, sugarcane, cotton, rice etc.

      Requirement:

      Being student of economics identify appropriate price policy measure which government can opt to motivate the farmers and increase agricultural productivity. Logically discuss how the identified price policy will boost the agricultural production.

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      • zareen
        zareen Cyberian's Gold last edited by

        Four types of market structure
        Monopolistic competition
        Oligopoly
        Monopoly
        Perfect competition
        In our case there is a perfect competition because so many sellers having identical or same products. Which are characteristics of perfect competition.

        Recommended:
        Pure or perfect competition is a theoretical market structure in which the following criteria are met: all firms sell an identical product (the product is a “commodity” or “homogeneous”); all firms are price takers (they cannot influence the market price of their product); market share has no influence on price; buyers have complete or “perfect” information – in the past, present and future – about the product being sold and the prices charged by each firm; resources such a labor are perfectly mobile; and firms can enter or exit the market without cost.

        Note: - We are not responsible for any mistake, this is for your idea or help, need to verify yourself.

        Discussion is right way to get Solution of the every assignment, Quiz and GDB.
        We are always here to discuss and Guideline, Please Don't visit Cyberian only for Solution.
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        • zareen
          zareen Cyberian's Gold last edited by

          Discussion is right way to get Solution of the every assignment, Quiz and GDB.
          We are always here to discuss and Guideline, Please Don't visit Cyberian only for Solution.
          Cyberian Team always happy to facilitate to provide the idea solution. Please don't hesitate to contact us!
          NOTE: Don't copy or replicating idea solutions.
          Quiz Copy Solution
          Mid and Final Past Papers
          Live Chat

          1 Reply Last reply Reply Quote 0
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