Which of the following is not a characteristic of a monopolistically competitive market structure? A.) Each firm...
Which of the following is not a characteristic of a monopolistically competitive market structure?
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A.) Each firm must react to actions of other firms. |
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B.) There are low barriers to entry of new firms. |
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C.) There is a large number of independently acting small sellers. |
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D.) All sellers sell products that are differentiated. |
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Which of the following is not a
characteristic of a monopolistically competitive market
structure?
A.) Each firm...
24) Which of the following is not a characteristic of a monopolistically competitive market? a) Long-run...
24) Which of the following is not a characteristic of a monopolistically competitive market? a) Long-run profits likely to be positive. b) Differentiated products. c) No barriers to entry. d) Many sellers.
1. Which of the following is NOT a characteristic of a monopolistically competitive market?
1. Which of the following is NOT a characteristic of a monopolistically competitive market?A. many sellers.B. differentiated products.C. long-run economic profits.D. free entry and exit.2. Which of the following products is likely to be sold in a monopolistically competitive market?A. video games.B. breakfast cereal.E. beer.D. all of the above.3. Which of the following is true regarding the similarities and differences in monopolistic competition and monopoly?A. The monopolist faces a downward-sloping demand curve while the monopolistic competitor faces an elastic demand...
Which is not a characteristic of a competitive market? a large number of firms offering similar...
Which is not a characteristic of a competitive market? a large number of firms offering similar products O Firms have some degree of control over prices. O no product differentiation between firms little or no barriers to entry Question 2 of 21 > Classify each market characteristic as being a trait of competitive markets, monopolistically competitive markets, or both market structures. Competitive Markets Monopolistically Competitive Markets Both Market Structures Answer Bank No one buyer or seller can control prices Few,...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and monopoly industries? a. MR P b. P-min(ATO c MR-MC e. P> MR 9. The reason that the coffeehouse market is monopolistically competitive rather than perfectly competitive is because a, entry into the market is blocked b. there are many firms in the market. Os C barriers to entry are very low d. products are differentiated. 10. The "Discount Department Stores" industry is highly concentrated....
Which of the following is a characteristic of a monopolistically competitive market? O only one seller...
Which of the following is a characteristic of a monopolistically competitive market? O only one seller of a good that has no close substitutes O firms are price setters O products are identical Othere are high barriers to entry
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be su...
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
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...
Question 1 A monopolistically competitive industry has all of the following characteristics except there are no...
Question 1 A monopolistically competitive industry has all of the following characteristics except there are no barriers to entry. strategic behavior. product differentiation, a large number of firms. Question 2 In a monopolistically competitive industry, firms are large relative to the total market. firms are small relative to the total market. firms can be either large or small relative to the total market. there is only one firm. Question 3 Product differentiation can be used by firms to do all...
Is this correct :) Compare monopoly and perfectly competitive firm on the following points. Perfectly Competitive...
Is this correct :)
Compare monopoly and perfectly competitive firm on the following points. Perfectly Competitive Firms Monopoly 8. Prof. Camara/Assignment/P-Micro/Winter_2020 Single Many Number of Sellers Yes, Comparatively Easy Yes, Difficult Free entry/exit Normal Zero Long-run economic profits Identical Differentiated The products the firms sell None, price taker Yes Firms has market power? Downward-sloping Horizontal Total Surplus is maximized? Zpro Low Barriers Deadweight-Loss positive or zero?
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 is not a characteristic of a competitive market? a large number of firms offering similar products O Firms have some degree of control over prices. O no product differentiation between firms little or no barriers to entry Question 2 of 21 > Classify each market characteristic as being a trait of competitive markets, monopolistically competitive markets, or both market structures. Competitive Markets Monopolistically Competitive Markets Both Market Structures Answer Bank No one buyer or seller can control prices Few,...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and monopoly industries? a. MR P b. P-min(ATO c MR-MC e. P> MR 9. The reason that the coffeehouse market is monopolistically competitive rather than perfectly competitive is because a, entry into the market is blocked b. there are many firms in the market. Os C barriers to entry are very low d. products are differentiated. 10. The "Discount Department Stores" industry is highly concentrated....
Which of the following is a characteristic of a monopolistically competitive market? O only one seller of a good that has no close substitutes O firms are price setters O products are identical Othere are high barriers to entry
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
Question 1 A monopolistically competitive industry has all of the following characteristics except there are no barriers to entry. strategic behavior. product differentiation, a large number of firms. Question 2 In a monopolistically competitive industry, firms are large relative to the total market. firms are small relative to the total market. firms can be either large or small relative to the total market. there is only one firm. Question 3 Product differentiation can be used by firms to do all...
Is this correct :)
Compare monopoly and perfectly competitive firm on the following points. Perfectly Competitive Firms Monopoly 8. Prof. Camara/Assignment/P-Micro/Winter_2020 Single Many Number of Sellers Yes, Comparatively Easy Yes, Difficult Free entry/exit Normal Zero Long-run economic profits Identical Differentiated The products the firms sell None, price taker Yes Firms has market power? Downward-sloping Horizontal Total Surplus is maximized? Zpro Low Barriers Deadweight-Loss positive or zero?
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