Scenario Many small shops sell different styles of sweaters. Some stores sell higher-quality and more expensive sweaters than other stores. Dozens of companies produce plain white socks. The standard technology for producing socks is widely known and available to anyone who wants to enter the business. Four Internet providers offer similar services to almost everyone in the city. Any new company would have to engage in a price war with the existing companies. Scholastik Inc. owns the U.S. copyright to a popular series of books. It is the only company with the legal right to publish these books in the United States. Number of Firms (One, Few, Many) Type of Product (Homogeneous, Unique, Differentiated) Entry (Easy, Challenging, Impossible) Market Model (Perfect Competition, Monopoly, Monopolistic Competition, Oligopoly)

Match the statements to complete a correct sentence A market structure with only one seller called Monopoly A market structure with few sellers called Oligopoly If the income elasticity of demand for bananas is 3.45, then banana's considered as Choose. The cost that is declining as output increase Choose. The quantity that consumer is willing and able to buy at a given price and time period is Quantity demanded The quantity that producer is willing and able to sell at a given price and time period is Quantity supplied The cost that remain unchanged regardless of of level of production called Choose. The time frame at which at least one input is fixed called Choose.. If the elasticity of demand is infinity, then the demand curve is Choose. If the elasticity of demand is zero, then the demand curve is Choose. The time frame at which all inputs are variables called Choose. If the cross elasticity of demand between good A and B is -2.7, then A and B are Choose.

Plesco is planning to establish a subsidiary in the US. This subsidiary will employ up to 50 workers, will have an office and a special storage for laptops. When designing the corporate form of the subsidiary Plesco wishes to limit its own liability so that the subsidiary is fully liable for all debts and obligations before its clients. At the same time, Plesco does not want this subsidiary to become a public company –- all shares should belong to Plesco so that Plesco could exercise full control. In addition, Plesco does not want a complicated organizational structure. An optimal tax regime would also be preferable for the owners of Plesco. One of the Plesco's plans includes registering a trademark “Plesco" for laptops. As laptops are the company's most successful product, Plesco is not planning to sell anything else in the US. However, having monitored the market, Plesco found that a trademark "Plesco" had already been registered for chocolates by USPTO. The owner of trademark in the…

A perfectly competitive firm is expected to make a $0 economic profit in the long-run. What type(s) of profit would you expect a monopolist to earn in the long-run? Why the difference? Use the editor to format your answer

Subject:

If due to a change in the price of a commodity from Tk. 250 to Tk. 200 per unit, its quantity demanded increases by 20% per year for a family, then what is the price elasticity of demand for the good? Please comment on the type of its price elasticity.

Market structure grid?

Please consider firms in the following types of markets: Monopolistic Competition Oligopoly Pure Competition Pure Monopoly Check All That Apply The following questions will ask you to check all of the market types that has each characteristic. There may be only one market type or there may be more than one market type for each characteristic. Price is equal to marginal revenue Monopolistic Competition Oligopoly Pure Monopoly Pure Competition Has high barriers to entry Monopolistic Competition Pure Competition Pure Monopoly Oligopoly Charges the lowest price Pure Monopoly Pure Competition Monopolistic Competition Oligopoly Produces the lowest quantity Monopolistic Competition Pure Monopoly Pure Competition Oligopoly Achieves allocative efficiency in the long run equilibrium Monopolistic Competition Pure Competition Oligopoly Pure Monopoly O O O O

The graph

1. Two companies, Klaren Electronics, a monopoly, and the Yarn Barn, a perfectly competitive firm, are interested in increasing their profits by using price discrimination. What is price discrimination? Will it help each company to accomplish their goal? Why or why not?