ANSWER:
The correct answer is option c that is milk as it demonstrates all the characterstics of a perfect competition as there are many producers and consumers and product (milk) is non distinguishable and the entry to the milk market is also easy.
An example of perfect competition is? a.tv show b. mystery novel c. milk d.designer dress
One difference between ‘perfect competition’ and ‘monopolistic competition’ is that A) there is product differentiation in monopolistic competition. B) there are barriers to entry in monopolistic competition. C) there are barriers to entry in perfect competition. D) there is product differentiation in perfect competition.
What are some real-life examples of perfect competition and example of how it fits into the four assumptions of prefect competition. Please don't mention gasoline prices. Something that people would see everyday.
Give an example of an organization operating under each of the following market structures: perfect competition, monopolistic competition, oligopoly, duopoly, monopoly. Justify your answers.
Which of the following is not a type of market structure? A. monopolistic competition. B. perfect competition. C. monopolistic oligopoly. D. monopoly
QUESTION 2 The wedding dress industry is monopolistically competitive. As a result, which of the following conditions applies to this industry? a. There are thousands of dress suppliers, all selling identical products. b. Dresses tend to be differentiated among the many sellers serving this market. C. There is freedom of entry but not exit in this industry. d. Prices tend to be lower than if the dress industry approximated perfect competition.
Graphically show the effect on short run profit for perfect competition when cost falls for an entire industry. Make sure to note how profit changes.
In pure or perfect competition: OA. there are no barriers to entry B. firms are producing a standardized product O C. the individual firm faces a perfectly elastic demand curve O D. all of the above E. none of the above
1. Competition (40 points) a. Describe perfect competition, monopoly and oligopolies and the relationship between marginal costs, marginal revenue and the price levels at equilibrium within each type of these markets (Using graphs might be helpful). b. Under what conditions do oligopolies function like perfect competition or monopolies? Explain in detail. Can we ever observe perfectly competitive markets or tendency towards them in the real world? Why, why not? C.
Please explain the following in your own words: 1. Characteristics of Perfect Competition with an example 2. Difference between inelastic and elastic demand with examples 3. Effect of tax imposition on buyers and sellers 4. Consumer surplus and producer surplus with examples 5. Relationship between the tax size and tax revenue and tax size and deadweight loss Each response must be four full lines.
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...