Q: what is the similarities between perfect competition and monopoly?
A: Perfect competition and monopoly markets, both two different market structures. however, there are…
Q: Explain using a two-dimensional graph how imperfect competition brings a loss of economic…
A: The imperfect competition causes loss of efficiency. The efficiency is achieved where the P = MC.
Q: How does a demand curve differ in perfect competition from a demand curve in a monopoly?
A: To show the difference between the demand curve under perfect competition and the demand curve under…
Q: Apple faces competition from many other firms in the world market for mobile phones; therefore,…
A: Apple has been the top brand in the world of smartphones. Apple has the exclusive right to use IOS…
Q: Under what condition is a monopoly preferred to perfect competition? Use a diagram to explain your…
A: Under perfect competition, there are large number of buyers and selling selling homogeneous goods.…
Q: Choose two of barriers to entry that would affect the market in which any business operates. Explain…
A: The obstructions or barriers that make it much more difficult for new businesses to enter a specific…
Q: Discuss briefly why competition exists in the industry? Give atleast Five reasons.
A: Competition in the industry exists due to following 5 reasons:- 1) Product features 2) Number of…
Q: How is non-price competition different from price competition?
A: There are two ways producers can compete (with their aim being profit maximization). They are: Price…
Q: Explain in detail the differences between Perfect competition and Monopoly. Using completely…
A: Perfect competition is a market where price is fixed because consumers have complete information of…
Q: Can you help me with the question below? A firm with “market power” has: A. The ability to raise…
A: The relative ability of a company to control the price in the market place by controlling the level…
Q: based on four market structure in economics, why some firms able to continue to make an economic…
A: Meaning of Market: The term market refers to the situation under which the producers or the…
Q: Pick The difference between the LONG-RUN outcomes in a perfectly competitive market and a monopoly…
A: Monopoly is the example of imperfect competition form of market where a single seller sale the…
Q: compare and contrast the monopoly and perfect competition in market structure in long run?
A: Monopoly is a market structure which has a single seller and many buyers. Perfect competition is a…
Q: What term refers to companies shaping their actions based on what their competitors do? allocative…
A: In a market, sometimes the decisions of the firms are not completely based on their own cost and…
Q: Why do all industries, except pure competition, not reach efficiency? What types of efficiency are…
A: Answer (50) Pure competition is a market situation where : products are homogenous there are a very…
Q: The difference between the LONG-RUN outcomes in a perfectly competitive market and a monopoly market…
A: A market structure with a high number of sellers selling homogeneous products is referred to as…
Q: What are the conditions that distinguish perfect competition from other market structures?
A: In case of Perfect Competition there are large number of buyers and sellers selling identical…
Q: Does economic theory contend that for every product, the market for the product should be perfectly…
A: When the equilibrium state of the perfect competition is being taken into consideration it is not in…
Q: Why do business open shop close to their competitors
A: A rival is someone, a corporation, a team, or an organisation that competes with you or your…
Q: What is the profit maximizing /loss minimizing rule a firm should follow regardless of the market…
A: If pricing is less than average total cost but larger than average variable cost, a company avoids…
Q: Explain why firms would or would not worry about future competition in each market. Explain how this…
A: Monopoly producerss don't think much about their potential income because they enforce stringent…
Q: Differentiate between Perfect Competition and Monopoly?
A: The major difference between perfect competition and monopoly form of market areNumber of buyers and…
Q: What are the unique characteristics of a perfectly competitive market structure compared to the…
A: Perfect competition refers to the situation where there are many buyers and sellers exist in the…
Q: From a societal point of view, can we claim that perfect competition and monopoly are equally…
A: Answer: Monopoly and perfect competition both are extreme forms of market structure, perfect…
Q: Under what conditions would a firm be most likely to use non-price competition?
A: Non-price competition is a competition where firms concentrate on other methods to attract customers…
Q: Compared to perfect competition there is a social cost under monopoly do you agree? Explain using…
A: The perfectly competitive market is a type of market structure where there are large number of…
Q: How is monopoly different from perfect competition?
A: A market is a place where the buyers and sellers interacts with each other party and determines the…
Q: How does a firm in perfect competition decide what price to charge? What quantity to produce?…
A: A perfect competition(PC) market is one with many consumers and sellers producing identical…
Q: Do you think firms really try to maximize profits? Do firms (especially small ones) know what prices…
A: Economist generally assume that firms act as profit maximisers. Economists don’t think there’s…
Q: 1. Which of the following advertisements provides information to the consumer? a. “CarbChips have…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Q6-What type of Competition exists in the following industry? a) K Electric in Karachi b) Getz…
A: A market is a structure where the trade of goods and services take place for a price paid by the…
Q: Why is competition an important factor that has to be studied before putting up a business?
A: Competitions refer to a situation when rivalry firms try to maximize profit by gaining market share…
Q: Which type of competition is characterized by a large number of firms, heterogeneous products and…
A: Monopolistic competition is a market defined by a large number of firms, heterogeneous products and…
Q: With the aid of a diagram explain how a monopolist determines how much output to produce and what…
A:
Q: Pick an industry where there is a dominant firm. Assume that you are the CEO of that firm. What…
A: It is common that when a firm is dominant in the industry and earn higher profit then other firms…
Q: Did Netflix create Blue Ocean space?Did it make the competition “irrelevant”? Why?
A: Blue Ocean Strategy:- The term "blue ocean strategy" refers to a market for a particular in which…
Q: What would be evidence of serious competition between firms in an industry?
A: The competition in the market is generally available to due to many factors relating to the firms…
Q: How much market power do you think that most firms enjoy? This is an important question as you…
A: The ability of a firm to manipulate the price of a product in the marketplace by managing supply and…
Q: Which of the following economists was an originator of the theory of imperfect competition?…
A: The correct answer with detailed explanation is as follows:-
Is it bad for consumers if a large corporation drives down prices to eliminate competition?
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