1. What do you think best describes each of the following markets: perfect competition, monopoly, oligopoly...

Question

Question

1. What do you think best describes each of the following markets: perfect competition, monopoly, oligopoly or monopolistic c

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

in oligopoly mas @ The market for cars is an example of oligopoly because oligopoly market there are few sellers in a market

Add a comment

Answer 2

Similar Homework Help Questions

1. What do you think best describes each of the following markets: perfect competition, monopoly, oligopoly...

1. What do you think best describes each of the following markets: perfect competition, monopoly, oligopoly or monopolistic competition? Explain. a. The market for cars. b. The market for soy beans. c. The market for cellphones. d. The market for dining out in a large city. 2. Why is price equal to marginal revenue for a perfectly competitive firm but not for a monopolist? e) What is the opportunity cost of one more slurpee? O A. $0.75 OB. 0.5 candy...
Which of the following options best describes market structures from the lowest to the highest degree...

Which of the following options best describes market structures from the lowest to the highest degree of market power? Perfect competition, monopolistic competition, oligopoly, monopoly Oligopoly, monopoly, monopolistic competition, perfect competition Monopoly, perfect competition, oligopoly, monopolistic competition Monopolistic competition, oligopoly, monopoly, perfect competition A cable company has determined that the marginal revenue from an additional subscriber is $15, and the marginal cost of providing cable services is $5. Based on this information, what should the company do? Increase the quantity...
1. The general term for market structures that fall somewhere between monopoly and perfect competition is

1. The general term for market structures that fall somewhere between monopoly and perfect competition isa. incomplete markets.b. monopolistically competitive markets.c. imperfectly competitive markets.d. oligopoly markets.2. An oligopoly is a market in whicha. there are many price-taking firms, each offering a product similar or identical to the products offered by other firms in the market.b. there are only a few sellers, each offering a product similar or identical to the products offered by other firms in the market.c. the actions...

1.Value of marginal product differs from marginal revenue product in each of the following except __________....

1.Value of marginal product differs from marginal revenue product in each of the following except __________. A. monopoly B. oligopoly C. perfect competition D. monopolistic competition 2.If the firm operates in markets that are not perfectly competitive, what will the price will tend to be? A. Equal to marginal revenue B. Less than marginal revenue C. Greater than marginal revenue D. The same as the competitive market 3.At every level of input, the marginal revenue product of the input equals...
[27] Mutual interdependence exists in which of the following markets? B. Perfect competition Monopoly Oligopoly All...

[27] Mutual interdependence exists in which of the following markets? B. Perfect competition Monopoly Oligopoly All of the above [28] Suppose a firm is currently producing an output such that profit equals $2000. Suppose the marginal revenue associated with the next unit of output equals $500, while the marginal cost of the next unit of output equals $200. If this firm produces the next unit of output, then profit will become: $2,700 $2,500 $2,300 $2,200
1) Which of the following market structures are found most often in an economy? Group of...

1) Which of the following market structures are found most often in an economy? Group of answer choices a Oligopoly and Monopoly b Monopolistic Competition and Oligopoly c Perfect Competition and Monopolistic Competition d Perfect Competition and Monopoly 2) In a perfectly competitive (price-taking) market, which of the following is false? Group of answer choices a The market price will equal marginal revenue b As prices increase, each firm will be willing to produce more c Firms will produce the...

POM CUCI 1. Because of monopoly, consumers experience___than they do with perfect competition. A. more choices...

POM CUCI 1. Because of monopoly, consumers experience___than they do with perfect competition. A. more choices B. larger quantities C. higher quality D. higher prices 2. Which statement concerning monopoly is TRUE? A. Monopoly firms are always larger than are perfectly competitive firms. B. A monopoly has no rivals. C. Barriers to entry do not prevent other firms from entering a monopolized industry. D. Monopolists produce more output than does a competitive market with the same demand and cos structure....
7. How is monopoly different from perfect competition? 8. What is a barrier to entry? Give...

7. How is monopoly different from perfect competition? 8. What is a barrier to entry? Give some examples. 9. What is a natural monopoly? 11. What is predatory pricing? 14. In what sense is a natural monopoly “natural”? 15. How is the demand curve perceived by a perfectly competitive firm different from the demand curve perceived by a monopolist? 16. How does the demand curve perceived by a monopolist compare with the market demand curve? 17. Is a monopolist a...
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run...

In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm. b.entry and exit by firms are restricted. c. there are many firms in a single market. d. marginal revenue is equal to price for each firm. ECTION 22 Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can eventually earn economic profits. b. each of the sellers offers a somewhat different product. C. strategic interactions...

In which of the following types of markets does a single firm have the most market...

In which of the following types of markets does a single firm have the most market power? Multiple Choice Perfect competition. Monopolistic competition. Oligopoly Monopoly A perfectly competitive firm is a price taker because Multiple Choice The price of the product is determined by many buyers and sellers It has market power. Market supply is upward-sloping. Its products are differentiated. Competitive firms cannot individually affect market price because Multiple Choice There is an infinite demand for their goods. Demand is...

1. What do you think best describes each of the following markets: perfect competition, monopoly, oligopoly...

Homework Answers