Emma P.

Emma P.

£18 - £22 /hr

Economics (Bachelors) - Nottingham University

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About me

Hello my name is Emma and I am a final year Economics student at the University of Nottingham. I would love to help you learn and improve to succeed in your exams. I take a friendly and patient approach and I am more than happy to explain things in different ways to help you understand difficult concepts. I am also very open to take questions from you and want you to know that no questions are stupid- I am very keen to help!

Hello my name is Emma and I am a final year Economics student at the University of Nottingham. I would love to help you learn and improve to succeed in your exams. I take a friendly and patient approach and I am more than happy to explain things in different ways to help you understand difficult concepts. I am also very open to take questions from you and want you to know that no questions are stupid- I am very keen to help!

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About my sessions

My sessions will be structured by assessing how much the student initially knows and then starting from an appropriate level (be this from complete beginner or advanced). I will establish goals/aims of the lesson with the student and we work through them by initially delving into economic theory and then summarising this with a practice exam question.

My sessions will be structured by assessing how much the student initially knows and then starting from an appropriate level (be this from complete beginner or advanced). I will establish goals/aims of the lesson with the student and we work through them by initially delving into economic theory and then summarising this with a practice exam question.

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Personally interviewed by MyTutor

We only take tutor applications from candidates who are studying at the UK’s leading universities. Candidates who fulfil our grade criteria then pass to the interview stage, where a member of the MyTutor team will personally assess them for subject knowledge, communication skills and general tutoring approach. About 1 in 7 becomes a tutor on our site.

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Enhanced DBS Check

13 Mar

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Qualifications

SubjectQualificationGrade
EconomicsA-level (A2)A
MathsA-level (A2)A
BiologyA-level (A2)A
ChemistryA-level (AS)B

General Availability

MonTueWedThuFriSatSun
Pre 12pm
12 - 5pm
After 5pm

Pre 12pm

12 - 5pm

After 5pm
Mon
Tue
Wed
Thu
Fri
Sat
Sun

Subjects offered

SubjectQualificationPrice
EconomicsA Level£22 /hr
EconomicsGCSE£18 /hr

Questions Emma has answered

Explain how price and output are determined in both the short run and long run in a monopolistically competitive market (15 marks)

Firstly define some features of monopolistically competitive market including: differentiated products, some influence over price, good information, no barriers to entry or exit, manyproducers and consumersDraw short run graph and explaining how firms set quantity by profit maximising (MC=MR), and theprice they charge can be worked out from the demand curve and the cost by the AC curve. This leads to a degree of abnormal profit assuming which is the rectangle between price and cost.Draw the long run graph implying that in the long run firms have an opportunity to enter the market, given absence of barriers to entry and they are enticed in by the abnormal profits. This results in the existing firm’s demand curve shifting left. The firms still profit maximise, but this is now at a lower level of output, where abnormal profit is likely to belower/eliminated.Firstly define some features of monopolistically competitive market including: differentiated products, some influence over price, good information, no barriers to entry or exit, manyproducers and consumersDraw short run graph and explaining how firms set quantity by profit maximising (MC=MR), and theprice they charge can be worked out from the demand curve and the cost by the AC curve. This leads to a degree of abnormal profit assuming which is the rectangle between price and cost.Draw the long run graph implying that in the long run firms have an opportunity to enter the market, given absence of barriers to entry and they are enticed in by the abnormal profits. This results in the existing firm’s demand curve shifting left. The firms still profit maximise, but this is now at a lower level of output, where abnormal profit is likely to belower/eliminated.

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3 weeks ago

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