Question

Using the models and theories of either (1) market structure, conduct and performance, (2) game theory or (3) the boundary of the firm, perform a microeconomic analysis of one appropriate economic issue or phenomenon of your choice. Clearly explain your chosen question, method and conclusions. Comment on the link between market structure and performance for your chosen issue.

- The issue is the effect on the Australian Meat market as a result of COVID - 19

- The word limit is 1500 word

Answer 1

The Market Structure Conduct and theory (SPC) Approach based exclusively upon the neoclassical theory has long been central to the study of industrial economic. SPC postulates casuleent structnduatrue of a market the conduct of firms in t market and thenrir economic performance.It The Market Structure Conduct and theory (SPC) Approach based exclusively upon the neoclassical theory has long been central to the study of industrial economic. SPC postulates casuleent structue of a market the conduct of firms in the market and the economic performance.SPC is a method of quality control which employs statistical methods to monitor and control a process...in addition to reducing waste SPC can lead a reduction in the time required to produce to product.SPC makes it less likely the finished product will need to be reworked or scrapped.

SPC theory is itself a method of quality control which employs statistical methods to monitor and control a process.This helps to ensure that the process operates efficiently producing more specification conforming product with less waste .

Common factor are that more competitive market structure accompany better market performance and that firm conduct and industry specific factors play independent roles .It is by now mother's milk to the industrial economist that market structure is as much an endogenous variable as market performance.

We are basically concerned with the application of the concept of pricing production and cost to the relationship between the firm's and the consumer.

Australian beef exports are now down 3% for the calendar year to June with this gap likely to widen in the coming months.Mutton and lamb exports have also declined 19% and 12% respectively in the calendar year to date on the back of tighter supply.

Pandemic impact advice for food and reduced demand for Australian meat export have heavily...