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A: Assumptions of theory of imperfect competition 1.Many sellers and buyers There are many sellers and…
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Q: discuss why a firm in perfect competition will not charge a price above or below the market price.
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Q: Which of the following is not an essential condition of pure competition?
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Q: What are the advantages of pure competition?
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A: Production: It refers to the produce goods and services in the economy. The more the production of…
Q: Und er what conditions would a firm be most likely to use non-price competition?
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A: None of the players in the Cournot Model understand interdependence. Therefore, continuing to…
Q: When price is less than marginal cost, a profit-maximizing producer in perfect competition will:
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Q: With examples, examine the barriers to business entry for imperfect competition firm
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Q: What is the correct answer? In pure competition, if the market price of the product is lower than…
A: Pure competition is a showcasing circumstance wherein there are an enormous number of dealers of an…
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A: Perfect Competition is a market situation where there are large number of buyer and seller s dealing…
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Q: In perfect competition there are no barriers to entry for firms. Which of the following would be a…
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Q: Which of the following is true concerning purely competitive industries?
A: The perfect competition market consists of a large number of sellers who are price takers as the…
Q: Strictly speaking, pure competition is relatively rare. Then why study it?
A: Pure competition is a business condition where similar goods are sold by a wide number of individual…
Q: How can I describe the equilibrium situation of the firm operating in the perfectly competitive…
A: A perfectly competitive market has the following characteristics: A large number of buyers and…
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A: In Perfect competition, firms earn zero economic profit in the long run because in this market firms…
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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: Consider the following two industries the rice industry and labtop industry. Which industry would…
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Q: Which of the following industries most closely approximates pure competition? O A. Agriculture O B.…
A: Perfect competition is a type of market structure.
Under what conditions would a firm be most likely to use non-price competition?
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- What is Marginal Revenue equal to for a firm in a competitive market?Which of the following would not help a firm to improve its competitive position?Has any particular firm in the perfectly competitive market found a way to differentiate or distinguish itself from its competitors? If so, what did the firm do? If not, what prevents the firm from differentiating itself?
- Given the zero-profit condition, how do the competitive firms make decision to increase their revenue to maximize profit?Strictly speaking, pure competition has never existed and probably never will. Then why study it?Which market offers higher consumer surplus and why? The perfectly competitive firm or the monopoly firm?
- Will a profit-maximizing firm in a competitive market ever produce a positive level of output in the range where the marginal cost is falling? Give an explanation.What are the options available to a firm when the market demand exceeds capacity?You witnessed new firms entering a competitive market. What can you infer for the existing firms in that market?