Answered: What determines whether corporations…

What determines whether corporations individual proprietorships employee on firms consumer cooperative or some other form of business structure will dominate in the market?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: What is the competitive structure of the firms listed below and why? A restaurant in a small,…

A: Monopoly: - monopoly market structure is the structure in which there is only one seller of any good…

Q: b) How does perfect competition lead to allocative and productive efficiency? (Explain using less…

A: Perfect competition: It means the market where competition is at the highest level.

Q: Elementary textile production was found in several locations throughout Africa. Select two accurate…

A: a. Archaeological findings suggest that West Africa had a well-established tradition of textile…

Q: Based on the following table: Output Price ($) Total Costs ($) 0 10 31 1 10 40 2 10 45 3 10 48 4…

A: The profit maximizing output is the point where the marginal cost is equal to the marginal revenue.…

Q: There are various market kinds in the market structure where each type of market has its own…

A: The markets are the place where the buyers and sellers tend to meet and interact with each other.…

Q: Suppose Falero is one of over a hundred perfectly competitive firms that produce large cardboard…

A: Firms in a perfectly competitive market are price takersTherefore, the demand curve for individual…

Q: What would you expect to happen to these profit opportunities in the long-run? Hint: you are not the…

A: Purchasing Power Parity (PPP) is an economic theory and exchange rate regime that relates the…

Q: The "balance" in microeconomics refers to: Firm revenue = HH income HH Income = Firm…

A: Microeconomics is an important branch of economics that focuses on several issues such as consumer…

Q: Which of the following is true of profits and losses? Profits direct entrepreneurs toward production…

A: Profit: The profit is the excess of the revenues over expenditure at the given period of time…

Q: Next draw what an individual firm would look like in the market you choose to highlight. For the…

Q: A(n) is a form of business ownership that is taxed as though it were a partnership, is popular among…

A: Worker cooperative - Cooperative that is controlled and own by cooperatives/ its workers. Each…

Q: Allocative and productive efficiency are achieved under the market structure of:

A: Allocative efficiency occurs when resources are distributed in a way that maximizes overall…

Q: Which of the following is NOT one of the three primary determinants of market structure? A.…

A: Market structure can be defined as the market characteristics. There are four major types of market…

Q: Explain how firms that compete in the four different market structures determine profitability. Use…

A: Market structure refers to the organizational and other characteristics of a market, such as the…

Q: Suppose a firm has market power and faces a downward sloping demand curve for its product, and its…

A: A firm having market power is a single seller in the market which can influence the price of its…

Q: Classic Shutdown Position Industry Firm MC P = MR QUANTITY QUANTITY Explanation: PRICE PRICE

A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…

Q: Which of the following would not be considered a state of nature for a business firm? Question 26…

A: State of nature of the business firms means the all the set rules and regulation or policies that…

Q: Market shares of mat makers are in the table below. Firm Market Share (Percent) Made-to-last, Inc…

A: while calculating concentration ratio we consider the firms who have a larger market percentage…

Q: Market structure consists of different kinds of markets where type of market has its own…

A: The market is a place where service and product transactions take place. In making decisions, it is…

Q: Utilities = $20,000 Wages = $100,000 Owner's Salary = $95,000 Potential Rent from Building

A: An economic profit is the difference between the opportunity costs of its inputs and the revenue a…

Q: What is liquidation and how did they do it?

A: The process in which the company is in turn being brought to an end is known as liquidation. There…

Q: Why might a firm wish to operate in more than one country?

A: The firms might wish to operate in more than one country because It wants to expand the operations…

Q: Government regulations related to competition in the industry helps to clearly establish a line…

A: In a market, governement regulations refer to the actions taken by the government to restrict some…

Q: Comment on or explain: The mob goes in search of bread, and the means it employs is generally to…

A: " The mob goes in search of bread, and the means it employs is generally to wreck the bakeries."…

Q: Many large corporations, such as General Motors and Apple, operate in markets that are not even…

A: There are many buyers and sellers in a market with perfect competition, and they all start the…

Q: Explain the economic pillar of Starbucks in essay type

A: Starbucks is a global coffee company with more than 20,000 locations in more than 60 countries.…

Q: opic : Industry equilibrium Question : What determines the number of firms in an industry (a) in…

A: Industry is said to be in equilibrium in short run when it’s total output remains steady. Also when…

Q: State what market structure exists in Jamaica since the early 2000s. Explain if excess profit will…

A: Since early 2000s monopolistic competition exists in Jamaica.

Q: Classify these firms into adequate market structure and explain your classification. Sporting and…

A: In case of sporting and athletic goods there is a limited number of buyers, a specific section of…

Q: In the space below please draw a depiction of both a market and a firm operating in the market…

A: Perfect competition is characterised by a large number of buyers and sellers, perfect knowledge, no…

Q: v Question Completion Status: 3000 2500 Maran ct 2000 1500 To pe 500 Demnd Margnaev 200 Quantity In…

A: The monopoly refers to the market form which is characterized by a large number of buyers and a…

Q: Industries can be classified by a. cost structure b. degree of vertical integration c.…

A: An industry is a collection of businesses that are linked by their core business activity.There are…

Q: Use the chart to answer the following question. Characteristics of Market Structures Barriers Number…

A: Market structure basically refers to a term used in economics to explain how businesses are…

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: 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: I. Desktop Publishing Software, Inc Desktop Publishing Software, Inc., develops and markets software…

A: P = 1000-1Q TC = 50,000 + 100Q

Q: Which of the following is NOT a characteristic of perfect competition? O the product is homogeneous…

A: Perfect competition is a type of market structure in which there are large number of buyers and…

Q: Q3 : Elaborate the Perfect Competition Model in detail.

A: Perfect competition describes a market structure wherever competition is at its greatest doable…

Q: Market structure and what are the characteristics of each market kind.

A: Exchange of goods & services takes place in a market, where the buyer purchases the goods…

Q: Discuss/explain the nature and characteristics of various market structures and propose how the firm…

A: 1. Perfect competition, Nature and characteristics: There is an unlimited number of seller and…

Question

What determines whether corporations individual proprietorships employee on firms consumer cooperative or some other form of business structure will dominate in the market?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Suppose all firms in a perfectly competitive market structure are in long-runequilibrium. Then demand for the firms’ product increases. Initially, price andeconomic profits rise. Soon afterward, the government decides to tax most (but not all) of the economic profits, arguing that the firms in the industry did not earn the profits. Rather, the profits were simply the result of an increase in demand. What effect, if any, will the tax have on market adjustment?
Evaluate the perfect competition market structure as a benchmark against which the functioning of all other types of market structures can be compared in terms of allocative efficiency and productive efficiency. Please provide diagrams with this answer.
What is perfectly competitive market structure? Analyse various features of the perfectlycompetitive market with suitable examples.
Which of the following products/markets is most consistent with the perfect competition model? Apple iPhones a bustling farmers' market Kellogg's Frosted Flakes electric utilities automobiles 2 Adam Smith’s “invisible hand” refers to The mechanism that moves market price and quantity to equilibrium The natural tendency of markets to avoid monopolies and ensure competition The market’s incentive to lower price in order to increase quantity sold The lack of government role in the free market due to the market’s ability to self-regulate The tendency of firm’s to seek to merge in order to realize synergies and market dominance 3 A company facing inelastic demand for a product sees an increase in its costs after a worker strike forces a wage increase. What is likely to happen to the price and quantity sold of that product? Price will fall slightly while…
Analyze Toothpaste for India in terms of: market structure, major players, demand, supply, elasticity, HHI, any other variables of importance in your opinion
Explain Drivers of New Supply Chain Systems and Applications?
The patterns in demand can seem mysterious at first, but if you familiarize yourself with the ideas contained in customer demand theory, you can make reliable predictions about customer behavior. Many thinkers over many years developed this theory, and it helps anticipate reactions to changes in the way people market products and services." Source: Johnston, K. (2023). https://smallbusiness.chron.com/customer-demand-theory-37253.html Based on the scenario above discuss the demand determinants. Provide clear commodity examples in your discussion.
Discuss where does the shutdown being and why? What does the company has to do to get back to supernormal profit?
What happens to employment opportunities and wages paid in all non-competitive product markets? Why?
Which of the following is not an “acronym” economy? MISTs MINTs CIVETS BEALs
True/ False Perfect competition produce a homogeneous product which have a good knowledge among the buyers and sellers.
State whether the following statements are correct or not and briefly explain why A. Diseconomies of scale justify horizontal expansion of firms into unrelated fields. B. Economies of scale lead to a downward sloping marginal cost curve C. Elasticity of demand remains constant throughout the product cycle.