Homework Answers
Merger is unlikely to be approved if it prevents or substantially lessen competition since major criteria of approving merger or not, depends upon how that affect the market competition which is being reflected through ratio's such as CR4 or HHI etc.
CR4 ratio of 80% or above reflects low concentration and reflects Oligopoly or even monopoly if their is only one firm as market structure Hence, option (B) an Oligopoly is correct
Prisoner dillema refers to the situation where self interest result in unfavorable outcome for the group Hence,option (E) correctly reflects the dillema
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A merger is unlikely to be approved if O A. the good produced in the market...
Please Help Question 9 0.16 pts The gap between the actual quantity produced by a monopolistically...
Please Help
Question 9 0.16 pts The gap between the actual quantity produced by a monopolistically competitive firm and the optimal quantity in a competitive market is known as inefficient scale. insufficient capacity. flux capacity O markup. excess capacity Question 10 0.16 pts We could state correctly that the minimum characteristic necessary to distinguish among price-making firms is O price discrimination. the number of firms in the industry. whether they produce industrial or consumer products. O product differentiation. O the...
10. Ford Motor Company falls into which market structure?
10. Ford Motor Company falls into which market structure? a. perfect competition b. monopolistic competition c. pure oligopoly d. differentiated oligopoly e. monopoly11. The existence of price discrimination in a market is evidence of which of the following? a. The market is NOT a perfectly competitive market. b. Firms in the industry will earn zero economic profit in the long-run. c. Most firms in the industry will go out of business soon. d. The government is over-regulating the market. 12. Compared to a firm in perfect competition, the monopolistically...
please answer all questions! In the short run, a firm in a monopolistically competitive market operates...
please answer all questions!
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competitive firm an oligopoly firm O a monopoly O a duopoly When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are...
31. A good that has an external cost is a. produced in the efficient quantity in...
31. A good that has an external cost is a. produced in the efficient quantity in the free market. b. produced in greater than the efficient quantity in the free market. c. produced in less than the efficient quantity in the free market. d. not produced in the free market. 35. Which one of the following would not differentiate one product from another under monopolistic competition? a. location. b. special services that go along with the purchase of a product....
37) One of the reasons cartels are considered unstable is that A) it is inefficient to...
37) One of the reasons cartels are considered unstable is that A) it is inefficient to manage individual firms collectively. B) member firms reduce their investment, thereby becoming uncompetitive over time. consumers seek out substitutes to the cartel product. D) there are wide fluctuations in price as cartel members vary their output. E) individual members of the cartel have an incentive to violate the cartel agreement 38) If there are economic profits in a monopolistically competitive industry, they will generally...
D Question 36 1 pt Caskets are produced in a monopolistic competitive market. One producer, Final...
D Question 36 1 pt Caskets are produced in a monopolistic competitive market. One producer, Final Boxes, sells 20 caskets a week at a price of $550 each. Its average total cost is $600. From this information, we know that O this producer is setting marginal revenue equals marginal cost. O this producer is making an economic profit of $500. O new casket firms will want to enter O this producer is losing $1,000 a week. O this producer should...
1. Ture of False. Write "For "T" in the following table. (20 points totally, and 2...
1. Ture of False. Write "For "T" in the following table. (20 points totally, and 2 for cach) (1) Perfect competition occurs in a market where there are a few firms producing identical goods. (2) For a monopoly, the industry demand curve is the firm's marginal revenue curve. (3) Sam's production possibility frontier has good A on the horizontal axis and good B on the vertical axis. If Sam is producing at a point inside his frontier, then he can...
a) Why is a monopolistically competitive firm less efficient than a perfectly competitive firm? It produces...
a) Why is a monopolistically competitive firm less efficient than a perfectly competitive firm? It produces at an output that is lower than its minimum efficient scale (MES) It earns positive economic profits in the long run It deters entry of new firms by putting up entry barriers All of the answers are correct b) Suppose a monopolistically competitive firm has MC=4Q+5. Its demand is P=145-3Q and marginal revenue is MR=145-6Q. What is its profit-maximizing output level? 17 14 16...
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...
Part 1. 1. Use the figure above to answer this question. Consider a perfectly competitive market experiencing good time...
Part 1.
1. Use the figure above to answer this question.
Consider a perfectly competitive market experiencing good times.
Figure ________ shows a firm maximizing profit in the LONG RUN
because it produces ________ units and makes an economic profit of
________.
A) A; 100; $2 per unit
B) A; 90; $3 per unit
C) B; 100; $0 per unit
D) C; 100; $3 per unit
Part 2.
2. The figure above shows a firm's demand and marginal
revenue curves...
Please Help
Question 9 0.16 pts The gap between the actual quantity produced by a monopolistically competitive firm and the optimal quantity in a competitive market is known as inefficient scale. insufficient capacity. flux capacity O markup. excess capacity Question 10 0.16 pts We could state correctly that the minimum characteristic necessary to distinguish among price-making firms is O price discrimination. the number of firms in the industry. whether they produce industrial or consumer products. O product differentiation. O the...
please answer all questions!
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competitive firm an oligopoly firm O a monopoly O a duopoly When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are...
37) One of the reasons cartels are considered unstable is that A) it is inefficient to manage individual firms collectively. B) member firms reduce their investment, thereby becoming uncompetitive over time. consumers seek out substitutes to the cartel product. D) there are wide fluctuations in price as cartel members vary their output. E) individual members of the cartel have an incentive to violate the cartel agreement 38) If there are economic profits in a monopolistically competitive industry, they will generally...
D Question 36 1 pt Caskets are produced in a monopolistic competitive market. One producer, Final Boxes, sells 20 caskets a week at a price of $550 each. Its average total cost is $600. From this information, we know that O this producer is setting marginal revenue equals marginal cost. O this producer is making an economic profit of $500. O new casket firms will want to enter O this producer is losing $1,000 a week. O this producer should...
1. Ture of False. Write "For "T" in the following table. (20 points totally, and 2 for cach) (1) Perfect competition occurs in a market where there are a few firms producing identical goods. (2) For a monopoly, the industry demand curve is the firm's marginal revenue curve. (3) Sam's production possibility frontier has good A on the horizontal axis and good B on the vertical axis. If Sam is producing at a point inside his frontier, then he can...
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...
Part 1.
1. Use the figure above to answer this question.
Consider a perfectly competitive market experiencing good times.
Figure ________ shows a firm maximizing profit in the LONG RUN
because it produces ________ units and makes an economic profit of
________.
A) A; 100; $2 per unit
B) A; 90; $3 per unit
C) B; 100; $0 per unit
D) C; 100; $3 per unit
Part 2.
2. The figure above shows a firm's demand and marginal
revenue curves...
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