Homework Answers
Answer 1.
Monopolistic competition
reason- Monopolistic competition refers to the maeket structure in which there are many firms producing differentiated goods with competition amongst the firms due to easy entry and exit.
Answer 2. have distinguishable customers
reason- Price discrimination works when there are different types of customers with different demand elasticity which makes it possible for firms to charge different price.
Add Answer to:
Question 1 1 pts An industry with a large number of relatively small firms producing differentiated...
In which market structure is there a large number of firms producing slightly differentiated products? O...
In which market structure is there a large number of firms producing slightly differentiated products? O A. either perfect competition or monopolistic competition O B. monopoly O C. only perfect competition O D. only monopolistic competition O E. oligopoly Which of the following is an example of a two part tariff? O A. price discrimination based on the buyers' willingness to pay B. higher sales tax on specific products O c. a regulated firm uses marginal cost pricing for some...
Question 1 1 pts Cribbs and Babbles are the only 2 firms in the reusable baby...
Question 1 1 pts Cribbs and Babbles are the only 2 firms in the reusable baby diaper industry. Each company represents about 50% of the market share for the entire industry. There are no other competitors. This is an example of what? Imperfect competition Monopolistic competition O Oligopoly Monopoly Question 2 1 pts There are 16 food vendors who are set up outside of a music festival. This is an example of what? Perfect competition O Monopolistic competition O Oligopoly...
The market structure in which there are many firms in the industry, each selling slightly differentiated...
The market structure in which there are many firms in the industry, each selling slightly differentiated products, is called: Group of answer choices Monopolistic competition Monopoly Perfect competition Oligopoly Oligopolistic competition
9. The following discussion allows you to investigate on your own some firms that demonstrate characteristics...
9. The following discussion allows you to investigate on your own some firms that demonstrate characteristics that one might expect in a monopolistic competitive environment. Essentially, monopolistic competitors really sell similar products! In a shopping mall if you look for shoe shops in the directory you may find over a dozen. If you shop online and Google “Shoes” you may find hundreds or thousands of places to buy shoes. What then separates perfect competition from monopolistic competition? Advertising and the...
Question Completion Status: QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing...
Question Completion Status: QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product. 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: flat. kinked. O upward-sloping. Odownward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
18 20,21,22,23 Question 18 2 pts The marginal revenue received by a firm in a perfectly...
18 20,21,22,23
Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
Chapter 13 Vocabulary a. Non-price competition b. Cartel c. Prisoner’s dilemma d. Excess capacity e. Collusion...
Chapter 13 Vocabulary a. Non-price competition b. Cartel c. Prisoner’s dilemma d. Excess capacity e. Collusion f. Differentiated product g. Herfindahl index h. Duopoly i. Monopolistic competition j. Oligopoly ( ) 7. Five or fewer firms produce most of the output in an industry, or control a large share of the market. ( ) 5. Most type of retail stores, like J. Crew, fall into this market category. ( ) 8. This is a two-firm oligopoly. ( ) 1. In...
1. The four market structures are and firms are producing a firms are produc 2. Perfect...
1. The four market structures are and firms are producing a firms are produc 2. Perfect competition is a market structure in which - - product and entry is 3. Monopolistic competition is a market structure in which ing a product and entry is 4. Oligopoly is a market structure in which product and entry is - 5. Monopoly is a market structure in which firms are producing a firm supplies a product and entry 6. Oligopoly is the only...
Please Help Question 13 0.16 pts An industry (such as California cheese) might advertise so that...
Please Help
Question 13 0.16 pts An industry (such as California cheese) might advertise so that its product (cheese) O will now be viewed as homo O may be characterized by a horizontal demand curve. O will be sold in perfectly competitive markets. O is no longer viewed as homogeneous. O will now have a price elasticity of demand that is more elastic. geneous for all producers. Question 14 0.16 pts Firms in a monopolistically competitive industry produce monopolistic goods...
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...
In which market structure is there a large number of firms producing slightly differentiated products? O A. either perfect competition or monopolistic competition O B. monopoly O C. only perfect competition O D. only monopolistic competition O E. oligopoly Which of the following is an example of a two part tariff? O A. price discrimination based on the buyers' willingness to pay B. higher sales tax on specific products O c. a regulated firm uses marginal cost pricing for some...
Question 1 1 pts Cribbs and Babbles are the only 2 firms in the reusable baby diaper industry. Each company represents about 50% of the market share for the entire industry. There are no other competitors. This is an example of what? Imperfect competition Monopolistic competition O Oligopoly Monopoly Question 2 1 pts There are 16 food vendors who are set up outside of a music festival. This is an example of what? Perfect competition O Monopolistic competition O Oligopoly...
Question Completion Status: QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product. 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: flat. kinked. O upward-sloping. Odownward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
18 20,21,22,23
Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
1. The four market structures are and firms are producing a firms are produc 2. Perfect competition is a market structure in which - - product and entry is 3. Monopolistic competition is a market structure in which ing a product and entry is 4. Oligopoly is a market structure in which product and entry is - 5. Monopoly is a market structure in which firms are producing a firm supplies a product and entry 6. Oligopoly is the only...
Please Help
Question 13 0.16 pts An industry (such as California cheese) might advertise so that its product (cheese) O will now be viewed as homo O may be characterized by a horizontal demand curve. O will be sold in perfectly competitive markets. O is no longer viewed as homogeneous. O will now have a price elasticity of demand that is more elastic. geneous for all producers. Question 14 0.16 pts Firms in a monopolistically competitive industry produce monopolistic goods...
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...
Most questions answered within 3 hours.
-
Describe two obstacles that makes fixing atmospheric nitrogen
difficult.
asked 1 minute from now -
T
F 53) Most differences
between human groups are the result of biology rather than
culture....
asked 2 minutes ago -
A 5.20 mW helium neon laser emits a visible laser beam with a
wavelength of 633...
asked 6 minutes ago -
Assignment:
Your
organization has made a strategic decision
to
outsourcework
currently performed in house. You have...
asked 4 minutes ago -
A hospital performs 100 surgeries per week. The probability that
complications after surgery occur is 10%....
asked 5 minutes ago -
In preparing its cash flow statement for the year ended December
31, 2018, Green Co. gathered...
asked 7 minutes ago -
Donna is 18 years old and full time accounting student.She is
saving for an overseas holiday...
asked 7 minutes ago -
Service-oriented architectures (SOA) provide
object-oriented architectures for web platforms that represent a
collection of services. SOA...
asked 8 minutes ago -
Le Terroir Winery is considering an expansion project to produce
fine wines. The trial expansion will...
asked 17 minutes ago -
The Bahraini public budget experiences deficit in the last
seven years, what are procedures are taken...
asked 24 minutes ago -
You invested $30,000 in a mutual fund at the beginning of the
year when the NAV...
asked 27 minutes ago -
Would you expect the price elasticity of supply for guitars to
be more inelastic in the...
asked 29 minutes ago