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Analyse the level of economic efficiency achieved [short run] in a monopolistically competitive transport market (15 marks)

Start by defining the relevant market (e.g. monopolistic competition). This should follow along the lines of: ‘a market structure where many firms operate providing slightly differentiated goods and services...
MA
Answered by Mark A. • Economics tutor
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How can we isolate DNA from cells?

DNA isolation is important for experimental analysis and drug discovery across many biological disciplines. Firstly a cell culture must be homogenised to break down the cells into a uniform liquid, making it...
GC
Answered by George C. • Biology tutor
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What is the Hedonic Calculus?

The Hedonic Calculus is one of the central ideas of Bentham's Act Utilitarianism. Created by combining hedonism, (the pursuit of pleasures and avoidance of pains) and democracy (majority rule) the hedonic ca...
Answered by • Philosophy tutor
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The function f(x)=x^2 -2x -24x^(1/2) has one stationary point. Find the value of x when f(x) is stationary, and hence determine the nature of this stationary point.

dy/dx = 2x - 2 -12x -1/2 dy/dx = 02x - 2 - 12x -1/2 = 0x = 4 (stationary point)d 2 y/dx 2 = 2 + 6x -3/2 when x=4, d 2 y/dx 2 = 11/411/4 > 0 therefore the point is a minimum
Answered by • Maths tutor
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A curve has an equation of y=2x^2 + 7x -8 . Find the co-ordinates of the turning point

Student will need to understand that the turning point will be a minimum as the curve is positiveStudent should complete the square:1) factorise out the 2: 2(x 2 + 7/2 x) - 82) complete the square : 2[(x+7/4...
FH
Answered by Farah H. • Maths tutor
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