Business Microeconomics Assignment – Essay Instructions
Subject: BE507 – Business Microeconomics
Assignment – Essay
Topic: Compare Perfect Competition and (a Single Price)
Monopoly in terms of Economic and Social Efficiency
What should be addressed in the Essay:
[Please note this is not exhaustive. Also refrain from using this guidelines
Ø What is meant by Economic Efficiency?
Ø What is meant by Social Efficiency?
Ø What is Perfect Competition?
Ø Give Australian/real world examples of Markets that approximate Perfect Competition
Ø What is Monopoly?
Ø Give Australian/real world examples of Markets that approximate Monopoly
Ø Compare Efficiency in detail using diagrams and analyse with reference to Economic Theory.
* Make use of diagrams
* Consult several sources
* Remember to acknowledge all References.
Number of Words Required: 1,200 words
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