Does pure competition, as a market model, have any disadvantages for a) producers, and b) consumers? Give examples to substantiate your response.

Considering all that you have learned about pure competition, post a response to the following:
Pick an industry, not mentioned in the text, which meets the criteria for perfect competition. How does this industry fit into the perfectly competitive model?
Does pure competition, as a market model, have any disadvantages for a) producers, and b) consumers? Give examples to substantiate your response.
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You have learned that in the long run, pure competition leads to productive efficiency and allocative efficiency. Given this fact, post a response to the following:
Is pure competition a “desirable” market model for all industries? Should industries aspire for pure competition? Why or why not?
Think of an industry that does not function in a purely competitive market currently. Describe the changes that would be required, if this industry wanted to function under pure competition.

Satellite observation of the Earth provides many advantages over aircraft-borne sensors. Consider fields such as agronomy, forestry, or hydrology. For one such field of study, list some advantages . Can you suggest any disadvantages?

Satellite observation of the Earth provides many advantages over aircraft-borne sensors. Consider fields such as agronomy, forestry, or hydrology. For one such field of study, list some advantages . Can you suggest any disadvantages?

2. All remotely sensed images observe the Earth from above. Can you list some advantages to the overhead view (as opposed to ground-level views) that make remote sensing images inherently advantageous for many purposes? List some disadvantages to the overhead view.

3. Remotely sensed images show the combined effects of many landscape elements, including vegetation, topography, illumination, soil, drainage, and others. In your view, is this diverse combination an advantage or a disadvantage? Explain.

4. List ways in which remotely sensed images differ from maps. Also list advantages and disadvantages of each. List some of the tasks for which each might be more useful.

5. Some streetlights are deliberately manufactured to provide illumination with a reddish color., can you suggest why?

6. The human visual system is most nearly like which model of remote sensing .

Think of a purchase you are planning to make or have recently made. How much did it cost? How much per year do you think you will save from this purchase, and for how many years will you get these savings? Estimate the present value of the savings, and subtract the cost of the product.

Reading about Net Present Value (NPV) for this module, you probably thought of it as a technique used only by corporations. But the technique may also apply to your own purchases.

You may have heard a salesperson tell you, “This product pays for itself!” While this is probably rare for most products, sometimes there are future savings from certain products that will offset some of the costs. For example, if you buy a newer, more reliable, and more fuel-efficient car, it may save you on repair bills and gas prices compared with your old car. If you are a coffee connoisseur, buying a $100 espresso machine might save you money compared with constantly buying $4 drinks at your local Starbucks.

Think of a purchase you are planning to make or have recently made. How much did it cost? How much per year do you think you will save from this purchase, and for how many years will you get these savings? Estimate the present value of the savings, and subtract the cost of the product. Note that it is rare that any purchase will “pay for itself” (e.g., have a positive NPV). But are the savings enough that the product becomes a lot “cheaper” and more worthwhile for you to buy?