Is Amazon a monopolistic competitive company? Explain why. Describe how does elasticity effect of a company...
Homework Answers
Yes the amazon is the monopolistic competitive industry.
The monopolistic competitive industry is the type of industry in which there are large number of buyer and seller and some amount of price differentiation also exist because of differentiated products
The competitors of amazon include flipkart snapdeal shopclues etc. the price of the products in all these e-commerce companies varies a little bit because of differentiated products or quality and brands of products hence they all are part of monopolistic competition.
The elasticty effect has a great control over the prices of the companies. if the demand for the product of the company is elastic then a little change in the price of the product willl lead to a larger change in demand of the product and hence greater attention has to be given in the product related strategies. in this case the prices cannot be changed much because this may shift the preference of the buyer to other substitutes
if the demand of the product of the company is inelastic the company has greater control over the price of the product because the change in the price will not effect the demand of the product as it is inelastic
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Is Amazon a monopolistic competitive company? Explain
why.
Describe how does elasticity effect of a company...
Consider the company “Comcast” and explain if the company is: perfectly competitive; monopolistic competitive; oligopoly; or...
Consider the company “Comcast” and explain if the company is: perfectly competitive; monopolistic competitive; oligopoly; or pure monopoly. Then explain if the company’s demand curve is relatively elastic or relatively inelastic? Explain how you arrive at this conclusion. Finally, how does elasticity effect the company’s control over its price?
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1) List the five characteristics of monopolistic competitive market. 2) Explain the difference between a monopoly...
1) List the five characteristics of monopolistic competitive market. 2) Explain the difference between a monopoly and a monopolistic competitive market. 3) How are they similar, and how are they different? 4) Describe the demand curve facing a monopolistic competitive market and how it differs from that facing a firm in a purely competitive market. 5) How can a firm be able to sustain itself while differentiating itself from its competitors?
3. Unlike a perfectly competitive firm, the monopolistic competitive firm is able to (a little) control...
3. Unlike a perfectly competitive firm, the monopolistic competitive firm is able to (a little) control price. Discuss, why, the position of the firm in the long run, is similar to that of a perfectly competitive one. 4. List the characteristics of a monopolistically competitive market structure. 5. Describe the firm's decision in choosing the profit maximizing or loss minimizing level of output. Illustrate.
Please help, 4) Describe the demand curve facing a monopolistic competitive market and how it differs...
Please help, 4) Describe the demand curve facing a monopolistic competitive market and how it differs from that facing a firm in a purely competitive market. 5) How can a firm be able to sustain itself while differentiating itself from its competitors?
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QUESTION 14 Outline the main assumptions of monopolistic competition. Explain, with the graphs, the short run and long...
QUESTION 14 Outline the main assumptions of monopolistic competition. Explain, with the graphs, the short run and long run equilibrium conditions of a monopolistic competitive firm (10 marks) QUESTION 15 At what price and output will a monopolist firm maximise profits and how much profit will it make? Explain with graph (10 marks) (10 marks) QUESTION 16 What conditions must hold for price discrimination to be possible? In each of the cases below, why and how does a firm choose...
1. How do fims differentiate there products from closely related substitutes? 2. Under Monopolistic Competition: explain the firm's strategy in advertising to lower the elasticity of demand for its product. Illustrate below, the shape of the fim's demand curve before and after lowering the elasticity of demand. 3. Unlike a perfectly competitive fim, the monopolistic competitive firm is able to (a little) control price. Discuss, why, the position of the firm in the long run, is similar to that of...
4. How and why does short-run equilibrium differ in competitive and monopolistic markets? Be as specific as possible. (10) b. Profits in competitive markets and in monopoly markets have different causes and serve different purposes. Discuss. (5)
3. Unlike a perfectly competitive firm, the monopolistic competitive firm is able to (a little) control price. Discuss, why, the position of the firm in the long run, is similar to that of a perfectly competitive one. 4. List the characteristics of a monopolistically competitive market structure. 5. Describe the firm's decision in choosing the profit maximizing or loss minimizing level of output. Illustrate.
QUESTION 14 Outline the main assumptions of monopolistic competition. Explain, with the graphs, the short run and long run equilibrium conditions of a monopolistic competitive firm (10 marks) QUESTION 15 At what price and output will a monopolist firm maximise profits and how much profit will it make? Explain with graph (10 marks) (10 marks) QUESTION 16 What conditions must hold for price discrimination to be possible? In each of the cases below, why and how does a firm choose...
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