ZuoTi.Pro
Question

[27] Mutual interdependence exists in which of the following markets? B. Perfect competition Monopoly Oligopoly All of the ab[28] Suppose a firm is currently producing an output such that profit equals $2000. Suppose the marginal revenue associated w

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Ans 1) Mutual interdepedence exist in Oligopoly Market as in oligopoly market there are few big firms that control all the sales of the market .Oligopolies are characterized by mutual interdependence where various decisions such as price , output etc , depend on the decisions of the other firm , any action by single firm has a large impact on the market

ans 2) current profit = 2000

marginal cost for one more unit is the cost of producing additional unit .therefore , cost of one more unit is 200

marginal revenue is revenue earned from sale of one more unit .Therefore , revenue earned in one more unit sales is 500

net profit for one more unit = revenue - cost

500-200 = 300

profit for one more unit = 300

total profit = old profit =+ additional unit's profit

2000+300 = 2300

Therefore , now the profit is 2300 i.e part c is correct answer

0 0
Add a comment
Know the answer?
Add Answer to:
[27] Mutual interdependence exists in which of the following markets? B. Perfect competition Monopoly Oligopoly All...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
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?

  • vau AL. If a firm in an industry is granted a patent, then it becomes: Lan oligopoly. B. a pure monopoly. C. a mono...

    vau AL. If a firm in an industry is granted a patent, then it becomes: Lan oligopoly. B. a pure monopoly. C. a monopolistic competition. D. a purely competitive. B 32. The minimum efficient scale of a firm: A. is realized somewhere in the range of diseconomies of scale. B. occurs where marginal product becomes zero. C. is in the middle of the range of constant returns to scale D. is the level of output at which long-run average total...

  • 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...

  • Perfect Competition Competition Monopolistic Monopoly Oligopoly Goal of firmsMaximize Profit Rule...

    how would you fill out this graph? Perfect Competition Competition Monopolistic Monopoly Oligopoly Goal of firmsMaximize Profit Rule for maximizing profit MR-MC Can earn economic profits in the short run? Yes Can earn economic profits in the long run? Yes Price taker? Sometimes P2MC Sometimes Price & MC Produces welfare maximizing output? Number of firms? Few 3. (1 point) Consider a world where only blank t-shirts are produced. Draw hypothetical Demand faced by a firm, MR, MC, and ATC curves...

  • 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....

  • 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...

  • 13. In which of the following markets is economic profit driven to zero in the long...

    13. In which of the following markets is economic profit driven to zero in the long run? a. Oligopoly b. Monopoly c. Perfect competition d. Cartels 1 Number of Workers Output So 110 180 260 330 74. Refer to Table 13-2. What is the marginal product of the fourth worker? a. 65 b. 70 - ن d. 80

  • 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...

  • Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly...

    Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly d. Monopoly e. c and d only All firms produce where a. marginal benefits are greater than marginal profits b. short-run profits are less than long-run profits c. marginal revenues are greater than or equal to marginal costs d. average total costs are greater than marginal costs A perfect competitor is a __________ and can earn economic profits ____________. a. price maker, in both...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT