Biologia gentics

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Short run: period of time in which at least one factor of production is fixed. All production takes place in the short run.
The length of it will be determined by the time it takes to increase the quantity of the fixed factor.
Long run: period of time in which all factors of production are variable, but the state of technology is fixed. All planning takes place in the long run. Total product: total output that a firm produces in a given time period.average product: output produced, on average, by each unit of the variable factor. Marginal product: extra output that is produced by using an extra unit of the variable factor. Law of diminishing returns As extra units of a variable factor are added to a given quantity of a fixed factor, the output from each additional unit of the variable factor will diminish. As extra units of a variable factor are added to a given quantity of a fixed factor, the output per unit of the variable factor will diminish.Total fixed costs: total cost of the fixed assets that a firm uses in a given time period. It is a constant amount.Total variable cost: total cost of the variable assets that a firm uses in a give time period. (TFC/ q)Average variable cost: variable cost per unit of output. (TVC/ q)Average total cost: (TC/ q)Marginal cost: increase in total cost of producing an extra unit of output. Long-run costs may increase or decrease as output increases: Economies of scale: any decrease in long-run average costs that come about when a firm alters all of its factors of production so as to increase its scale output. Examples: Specialisation Division of labour .Financial economies: banks tend to charge a lower interest rate to larger firms. Diseconomies of scale: any increase in long-run average costs that come about when a firm alters all of its factors of production so as to increase its scale output. ExampleControl and communication problems Total revenue: amount of money that a firm receives from selling its products in a given time period. TR= PxQ Average revenue: AR= TR / q Marginal revenue: extra revenue that a firm gains when it sells one more unit. Total profit:: TR-TC. IF TR>TC, the firm is making abnormal profits. If TR = TC, the firm is making normal profits, and if TRShut-down price: level of price that enables a firm to cover its variable costs in the short run. When P= AVC. If the price does not cover AVC, the firm will shut down in the short run.Break-even price: level of price that enables a firm to cover all of its costs in the long run. When P= ATC. If the price does not cover ATC, the firm will shut down. Profit-maximising level of output: The main aim of a firm is to maximise profits. IF the firm finds that MR>MC, then it should increase production. (see graph page 92) Between q1 and q2, the firm makes profit on every extra unit it produces since MR>MC. If it starts producing beyond q2, then it will make losses because MC>MR. It is at point q2 where profits are maximised. Profit is maximised where MC=MR. AC curve determines the amount of profit. (see graph page 93)Revenue maximisation: The measure success by the amount of revenue they make. They will attempt to produce where MR=0. Sales maximisation: They will produce beyond the profit-maximising level of output instead of realising that they should increase the price and sell less. Another possibility is that a firm may want to increase sales in the short run so as to drive other firms out of the industry. After doing this, they may aim to maximise their profits. Perfect competition Theoretical model. Assumptions: ...Very large number of firms...Individual firms are price-takers, because they have to sell at the price that is set by the market....Firms produce homogenous products....Firms are free to enter or leave the industry...Freely knowledge of information If the firm produces at the price set by the market, it can sell any amount. Profit is maximised where MC=MR. Short-run abnormal profits: They are covering more than the total costs. (see graph page 98) Short-run losses: they are not covering their total costs. (see page 98) Movement from short-run to long-run in perfect competitionShort-run abnormal profits to long-run normal profits: The industry supply curve will shift to the right since more and more firms will enter the industry. As a consequence, the demand curve of the firm will shit downwards. No, no one will enter and no one will leave the industry.Short-run losses to long-run normal profits: firms start to leave the industry, so the supply curve of the industry will shift to the left. This will have and effect in the demand curve of the firm, which will shift upwards.Productive and allocative efficiency in perfect competitionProductive efficiency: to produce its product at the lowest possible unit cost. MC=ACAllocative efficiency: suppliers produce the optimal mix of goods and services required by consumers. MC(the cost to producers)=AR(value to consumers)MonopolyAssumptions:One firm is producing the product, so the firm is the industry...Barriers to entry....Due to 2, monopolist may make abnormal profits in the long-run Barriers to entry:...Economies of scale: The existing monopoly already has economies of scale that the firm which wants to enter has not. So, the firm will not enter since it will make losses. ...Natural monopoly: for example, industries that supply water, electricity and gas....Legal barriers: a firm has been given a legal right to be a monopoly. ...Brand loyalty...Anti-competitive behaviour: the monopoly can lower its price to a loss-making level and should be able to sustain losses for a longer time than the new entrant, forcing the firm out of the industry....Monopolies can control the quantity or the price, but not both. They have a normal demand curve....A monopolist can make abnormal profits. However, if the quantity demanded is low, it may close, and therefore, the industry will stop existing. ...The monopolist produces at a level where there is neither allocative efficiency nor productive efficiency....Possible problems associated with monopolies in comparison with perfect competition:...They are productive and allocative inefficient...They can charge a higher price for a lower level of output...The y can exercise anti-competitive behaviour to keep their monopoly power. Monopolistic competition Assumptions:...Large number of firms...The actions of one firm have a great effect on any of its competitors...Substitutes (but for the consumers, they are unique)....No barriersmaking abnormal profits or losses in the short run, there will be a long-run equilibrium. In this situation, they will all be making normal profits. Firms will not enter nor leave the industry.There can be allocative efficiency and productive efficiency. Oligopoly....A few firms dominate the industry. Concentration ratio: expressed in the form CRX , where X is the number of the largest firms. The higher the percentage, the more concentrated is the market power of the largest firms. In all oligopolies there is interdependence. This may tend to make the firms collude. If they can collude and act as a monopoly, then they can maximise industry profits. However they may want to compete so as to gain a greater market share. Collusive oligopoly exists when the firms collude to charge the same prices for their products, acting as a monopoly. There are two types...Formal collusion: firms openly agree with the price they will charge. It is often called a cartel. It is usually banned by governments and against the law. Formal collusions between governments may be permitted. ...Tacit collusion: firms charge the same prices without any formal collusion, (without communicating)...In both cases, firms behave like a monopolist.Kinked demand curve: helps to explain the situation in a non-collusive oligopoly. Demand will be less elastic below the point “a”, since a decrease in price leads to a noticeable increase in quantity demanded. Demand will be relatively elastic above the point “a”, since a small increase in price will lead to a large fall in quantity. (see graph page 122). It offers some reasons that explain why there tends to be price rigidity in non-collusive oligopoly....Firms are afraid to raise prices because the other firms may not follow. ...Firms are afraid to lower prices because other firms will follow, and that will create a price war that will harm all the firms Non-price competition: for example, brand names, packaging, special features, advertising, sales promotion, personal selling, publicity, etc.


TRANSLATION.---> Production of polypeptides is under hereditary information and changes depending on cells needs and environmental conditions.---> Stable DNA molecules have to be consulted every time, is used as a guide to make a more short lived copy: mRNA.TRANSCRIPTION: --->mRNA, tRNA (for translation) and Rrna (structural and functional components of ribosomes) is made. --->RNA is single stranded, RNA produced has a sequence complementary to guide DNA.---RNA polymerase bites to DNA promoter.·---RNA polymerase separates the DNA to be transcribed the region of the gene.---RNA nucleotides pair with complementary bases on one strand of DNA molecule.----RNA polymerase forms covalent bonds between nucleotides.---DNA separates from RNA and double helix reforms. TRANSLATION:---> Protein production using mRNA as a guide for assembling amino-acids that will be a polypeptide.--->Takes place at ribosome (cytoplasm), each compromise a small and large subunit.
---> Genetic code: (universal) enables cellular machinery to convert the base sequence of mRNA into amino-acid.---> Codon: sequence of 3 bases on mRNA. Codes for specific amino-acid.--->tRNA carries amino-acids. --->Anticodon: sequence of 3 bases on tRNA.Complementary to codon bases.--->64 possible codons: 3 are stop codons: end of translation.---initiation codon: AUG---mRNA binds to small sub-unit of ribosome.---tRNA molecules carry amino-acids for its anticodons.---tRNA binds ribosome where its anti-codon matches codon of mRNA.---tRNA’s bind and polypeptides chain to the second one.---Ribosome moves along the mRNA until a stop codon is reched: complete polypeptide.

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