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Explain why, in theory, a perfectly contestable market results in an efficient allocation of resources

William J Baumol’s theory of contestable markets (1982) holds that there are markets served by a small number of firms, which are nevertheless characterized by competitive equilibria, and therefore, desirabl...
RM
Answered by Rebecca M. • Economics tutor
20095 Views

Which Medical school should I apply to?

It is important to approach your options tactically. Universities have very different selection criteria and it is key to apply to those that value your strengths; for instance some put emphasis on the numbe...
MD
2203 Views

What is diffusion and what effects the rate at which it occurs?

Diffusion is the movement of particles from an area of high concentration to an area of low concentration (with the gradient). Once the concentration in each area is equal, the overall diffusion rate is 0. W...
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Answered by Lucie C. • Biology tutor
22542 Views

What is mRNA?

mRNA is one of the 3 types of RNA: the others being tRNA and rRNA. They all play a role in protein synthesis. mRNA stands for messenger ribonucleic acid. It is made by copying a strand of DNA called the temp...
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Answered by Lucie C. • Biology tutor
22217 Views

Where do I start with poetic close analysis?

The tool that revolutionised the way I learned for A-Level English is one I wish I'd learned earlier. First of all, try to put all pre-conceptions you have of the piece aside. These are useful once you've bu...
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Answered by Sarah H. • English tutor
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