Please answer the 3 following questions:
Homework Answers
3. Option 3. Existence of significant economics of scale
Explanation: In monopolistic competition, firms under utilize their capacity and they do not achieve economies of scale.
4. Option 3. Positive
Explanation: The firm is most likely to be a monopoly and will have a positive economic profit in the long-ru.
5. Option 1. Mass marketing
Explanation: In mass marketing, the target is to reach as many people as possible.
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Please answer the 3 following questions:
QUESTION 3 Which of the following is NOT a characteristic...
Which is not a characteristic of a competitive market? a large number of firms offering similar...
Which is not a characteristic of a competitive market? a large number of firms offering similar products O Firms have some degree of control over prices. O no product differentiation between firms little or no barriers to entry Question 2 of 21 > Classify each market characteristic as being a trait of competitive markets, monopolistically competitive markets, or both market structures. Competitive Markets Monopolistically Competitive Markets Both Market Structures Answer Bank No one buyer or seller can control prices Few,...
QUESTION 1 Which of the following is not a characteristic of the monopolistic competition market structure?...
QUESTION 1 Which of the following is not a characteristic of the monopolistic competition market structure? Many sellers, each small in size relative to the overall market. Few sellers. Differentiated product. Easy, low-cost entry and exit. QUESTION 2 Which of the following is the best example of a monopolistic competitor? Wheat farmers. Restaurants. Air Canada. General Motors. QUESTION 3 In the long run, both monopolistic competition and perfect competition result in: a wide variety of brand-name choices for consumers. an...
please i need answers to these questions thank you Which of the following is characteristic of...
please i need answers to these questions thank you
Which of the following is characteristic of a perfectly competitive market? Multiple Choice O Differentiated products. 0 O Price below marginal revenue 0 O Significant barriers to entry 0 ( A large number of firms. 0 Which of the following is not a characteristic of a perfectly competitive market? Multiple Choice High barriers to entry. о Zero economic profit in the long run. о Perfect information c ) Homogeneous products од...
Please answer the 3 following questions: QUESTION 7 The meaning of interdependence in a monopolistically competitive...
Please answer the 3 following questions:
QUESTION 7 The meaning of interdependence in a monopolistically competitive market is that firms will not take into account the reaction of rival firms. that it is difficult for firms to get together to collude. that products produced by firms will be good substitutes. that price rigging commonly occurs. QUESTION 8 A good that entails relatively high fixed costs associated with the use of knowledge and other information-intensive inputs as key factors of production...
please answer all questions! Suppose the federal finance minister wants to pass a law that would...
please answer all questions!
Suppose the federal finance minister wants to pass a law that would require all monopolistically competitive firms to operate at their efficient scale. If this law were to pass and be enforced, what would we expect would happen to monopolistically competitive firms? They would see their costs increase. They would have to lower their production. They would require subsidies to stay in business. They would have to exit the market. What does entry by new firms...
can you please help me with these problems . microeconomics 0/1.21 pts ed Question 80 The practice of setting prices deliberately below pricing. costs in an eff...
can you please help me with these problems .
microeconomics
0/1.21 pts ed Question 80 The practice of setting prices deliberately below pricing. costs in an effort to drive a competitor out of the market is known as predatory average variable O average fixed explicit average total marginal 0/1.21 pts wered Question 78 0/1.21 An example of a tying arrangement is a restaurant offering both Pepsi and Coca-Cola products. a car manufacturer installing expensive onboard GPS/navigation systems in all the...
QUESTION 1 Which of the following is always a characteristic of the oligopoly market structure? Many...
QUESTION 1 Which of the following is always a characteristic of the oligopoly market structure? Many sellers, each small in size relative to the overall market. Few sellers. All sellers produce identical products. Easy, low-cost entry and exit. QUESTION 2 The industry that most closely approximates the conditions of the oligopoly model is: Restaurant. Retail clothing. Airlines in the U.S. The local cable company. QUESTION 3 In which of the following market structures must the price and output decisions of...
Please Answer for Question 2 with complete work and answers hand written 2) Eddie Kelly is running for reelection as...
Please Answer for Question 2 with complete work and answers
hand written
2) Eddie Kelly is running for reelection as mayor of a small town in Alabama. Jessica Martinez, Kelly's campaign manager during this election, is planning the marketing campaign, and there is some stiff competition. Martinez has selected four ways to advertise: television ads, radio ads, billboards, and newspaper ads. The costs of these, the audience reached by each type of ad, and the maximum number available are shown...
QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version...
QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product O Many firms selling an identical product O A few firms, each producing a particular version of a product O A few firms controlling the entire market QUESTION 2 The demand curve faced by a monopolistically competitive firm is O flat kinked. O upward-sloping O downward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
Please answer question 2 with complete answers and explanations. Hand written only 2) Eddie Kelly is...
Please answer question 2 with complete answers and
explanations. Hand written only
2) Eddie Kelly is running for reelection as mayor of a small town in Alabama. Jessica Martinez, Kelly's campaign manager during this election, is planning the marketing campaign, and there is some stiff competition. Martinez has selected four ways to advertise: television ads, radio ads, billboards, and newspaper ads. The costs of these, the audience reached by each type of ad, and the maximum number available are shown...
Which is not a characteristic of a competitive market? a large number of firms offering similar products O Firms have some degree of control over prices. O no product differentiation between firms little or no barriers to entry Question 2 of 21 > Classify each market characteristic as being a trait of competitive markets, monopolistically competitive markets, or both market structures. Competitive Markets Monopolistically Competitive Markets Both Market Structures Answer Bank No one buyer or seller can control prices Few,...
please i need answers to these questions thank you
Which of the following is characteristic of a perfectly competitive market? Multiple Choice O Differentiated products. 0 O Price below marginal revenue 0 O Significant barriers to entry 0 ( A large number of firms. 0 Which of the following is not a characteristic of a perfectly competitive market? Multiple Choice High barriers to entry. о Zero economic profit in the long run. о Perfect information c ) Homogeneous products од...
Please answer the 3 following questions:
QUESTION 7 The meaning of interdependence in a monopolistically competitive market is that firms will not take into account the reaction of rival firms. that it is difficult for firms to get together to collude. that products produced by firms will be good substitutes. that price rigging commonly occurs. QUESTION 8 A good that entails relatively high fixed costs associated with the use of knowledge and other information-intensive inputs as key factors of production...
please answer all questions!
Suppose the federal finance minister wants to pass a law that would require all monopolistically competitive firms to operate at their efficient scale. If this law were to pass and be enforced, what would we expect would happen to monopolistically competitive firms? They would see their costs increase. They would have to lower their production. They would require subsidies to stay in business. They would have to exit the market. What does entry by new firms...
can you please help me with these problems .
microeconomics
0/1.21 pts ed Question 80 The practice of setting prices deliberately below pricing. costs in an effort to drive a competitor out of the market is known as predatory average variable O average fixed explicit average total marginal 0/1.21 pts wered Question 78 0/1.21 An example of a tying arrangement is a restaurant offering both Pepsi and Coca-Cola products. a car manufacturer installing expensive onboard GPS/navigation systems in all the...
Please Answer for Question 2 with complete work and answers
hand written
2) Eddie Kelly is running for reelection as mayor of a small town in Alabama. Jessica Martinez, Kelly's campaign manager during this election, is planning the marketing campaign, and there is some stiff competition. Martinez has selected four ways to advertise: television ads, radio ads, billboards, and newspaper ads. The costs of these, the audience reached by each type of ad, and the maximum number available are shown...
QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product O Many firms selling an identical product O A few firms, each producing a particular version of a product O A few firms controlling the entire market QUESTION 2 The demand curve faced by a monopolistically competitive firm is O flat kinked. O upward-sloping O downward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
Please answer question 2 with complete answers and
explanations. Hand written only
2) Eddie Kelly is running for reelection as mayor of a small town in Alabama. Jessica Martinez, Kelly's campaign manager during this election, is planning the marketing campaign, and there is some stiff competition. Martinez has selected four ways to advertise: television ads, radio ads, billboards, and newspaper ads. The costs of these, the audience reached by each type of ad, and the maximum number available are shown...
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