Q: In the long run
A: In the long run firms get more power to change inputs.
Q: Pick three products you use every day (in school, at work, or for pleasure—perhaps one of each).…
A:
Q: A competitive market system is efficient. Discuss and explain this statement in detail. Your answer…
A: Macroeconomics is a part of economics that deals with production, decision and allocation concerning…
Q: ...... are more than just names and symbols. product quality packaging micromarketing product…
A: At the marketplace, different terminologies are used to explain different situations such as…
Q: Which market offers higher consumer surplus and why? The perfectly competitive firm or the monopoly…
A: In perfect competition, there are large number of buyers and sellers and each firm sells identical…
Q: which market has free entry
A: Perfect competition is defined as the market structure in which there are large number of sellers in…
Q: а. List out the main characteristics of a competitive market
A: A competitive market is one in which no single customer or producer has significant market power.…
Q: Identify the defining characteristics of a competitive market.
A: Perfect or pure competition is a form of market in which a large number of perfectly informed buyers…
Q: Is there perfect competition in the food delivery market? Why and How?
A: Monopoly, Oligopoly, Monopolistic Competitive forces, and Perfect Competition are the four market…
Q: Few sentences on the response please. Imagine you own your own business. Based on what you learned…
A: The profit of the market induced new firms to enter the market while the continuous entry of new…
Q: rite Notes on bellow: A- Market research
A: Market research refers to the process of determining the credibility of a new service or product to…
Q: This firm is earning economic profit. the industry. Product variety
A: Economic profit would be the difference between the total cost and total revenue Total revenue= p*q…
Q: Definition of Perfect market
A: A firm in any kind of market structure works with the objective of maximizing its profit and a firm…
Q: After the production and marketing tests and the preparation of a marketing program, a process is…
A: There are several stages through which output will be generated and products will go through before…
Q: What evidence of economic competition do you see in your everyday life? what evidence do you see on…
A: Economic competition refers to the situation where the firms in the economy compete with each other…
Q: tive market
A: Perfect competition is an ideal type of structure of market where all of the producers and consumers…
Q: True/False In Perfect competition market, differentiated goods are sold.
A: # In perfectly competitive market we have many buyer and sellers interacting with each other. There…
Q: Write down the attributes of a perfectly competitive market (200 words).
A: A marketplace is one that allows people, with different interests, to make economic transactions…
Q: There are several hamburger shops around you. You are trying to find ways to make your hamburger…
A: A monopolistically competitive firm will look to differentiate its product from its competitors as…
Q: What incentive compensation needed by employees to remain competitive within the industry?
A: The reward in the form of cash paid to employees for the service that they provide is defined as…
Q: Name atleast 2 business or service in the Philippines that is an example of perfect competition
A: Some of the features of Perfect Competition: 1. Firms are price takers 2. No individual firm can…
Q: In __________ market structure, the firm's are price maker
A: Firms can be either price maker i.e ( having full control over setting prices) or they can be price…
Q: You are the BRAND MANAGER of "AFTER EIGHT "
A: GIVEN Scrutinize the use of social media platforms such as Facebook, Youtube, Twitter, Instagram…
Q: ilustrate and example of economic profit with numbers
A: Economic profit is the profit one gets after taking into account the implicit and explicit costs,…
Q: The decision to continue competing in a market depends upon the answers to the following questions…
A: To sustain in the market ones have to bear the fixed cost in the short run as we know. Compete with…
Q: Give an example in the marketplace that describes the principles of the free market (perfect…
A: Prices of goods in competitive market are determined by free market forces of demand and supply.…
Q: Features of a perfect competitive market
A: In a market structure, each business unit aims to maximize or optimize its business profits from…
Q: What determining factor do buyers use to select products in a pure competition market? A. Brand B.…
A: Pure competition is a market system in which several firms compete for the same clients. The optimum…
Q: Short Answer Questions (SAQS): a) Do you think there is perfect competition in Pakistan markets? Why…
A: (Since you have asked many questions, we will solve the first one for you. If you want any specific…
Q: using graph A to identify the type of market and highlight characteristics of the market
A: Equilibrium in the market occurs at the intersection of demand and supply curves. P3 is the…
Q: What are the requirements for a perfect competition market?
A: Competitive market: - it is a market condition where there are many buyers and many sellers in the…
Q: Write a short note on perfectly competitive market structure.
A: # Broadly there are 4 market structures namely perfect Competition market, monopoly market,…
Q: what market structure is The consumer electronics market. explain
A: The market structure is solely controlled by the market force. If the market forces are met then…
Q: Can you give examples of companies with perfect competition?
A: The markets refer to the place where the buyers, and sellers interact. In the markets, the sellers…
Q: Identify an industry that enjoys perfect (or nearly perfect) competition. How do the competitors…
A: Perfect Competition is a market situation where there are large number of buyer and seller s dealing…
Q: Peers, culture, advertising and even confusion can be considered forms of: Supply Demand Influence…
A: Demand and supply may get influenced by many factors. Peers may influence demand by making someone…
Q: Discuss how economic forces such as macroeconomic conditions and consumer income affect marketing.
A: Macro economic environment The macro-environment is a broader term that refers to the economic…
Q: Car brands are a part of ___________ type of market structure
A: In total we have 4 broad categories of market structure which are namely perfectly competitive…
Q: A complete note on Market Structure
A: In microeconomics, we study the individual units of the economy like consumers, firms, government…
Q: Strategic alliances and networking help to enhance the business competitiveness of a firm. Please…
A: Strategic Alliance and networking improve the market productivity of companies. Strategic…
Q: Expain whether a perfectly competitive firm would or would not innovate.
A: Perfect competition is a market structure in which a large number of buyers and sellers in the…
Q: Given a description of a company's marketing mix, classify the elements of the marketing mix and the…
A: Marketing relates to practices that a corporation undergoes to facilitate the acquisition or…
Q: (Market Structure) Define market structure. What factors are considered in determining the market…
A: A market, in technical terms, is any location where two or more people can gather to conduct an…
Q: People usually interchange "brand" and "product" in their daily conversation. As a marketing…
A: A product is created by a corporation and can be purchased by a consumer in return for money, but…
Q: What kind of business is a travel agency? What problems are solved with the help of a travel agency…
A: 1. A travel agency is a private merchant or government agency that offers tourism and travel related…
Q: What form of competition best characterizes this market? What characteristics did you identify that…
A: Monopolistic competition: The salient feature of monopolistic competitive market is product…
Q: What price does a firm charge for the good it produces?
A: Economics is a branch of social science that deals with the production, consumption, and…
Information about Competitive market
Step by step
Solved in 2 steps
- Your friend, who has not taken any courses in economics, just inherited a company in another state. In three weeks, they will begin running a company about which they know nothing (not even the company's product or service). Explain various markets and how they work to your friend so your friend will be able to run the company.Information about Perfectly competitive marketIs there perfect competition in the food delivery market? Why and How?
- What kind of business is a travel agency? What problems are solved with the help of a travel agency and how? How does a travel agency fit in the competitive market?The marketing mix does NOT include which of the following?Choose one answer.a. Product b. Promotion c. Delivery of the product d. Social classThe graph best illustrates what type of market?