Explain if excess profit will exist in the long run for an oligopolistic market.

Q: Why might price collusion occur in oligopolistic industries? Access the economic desirability of…

A: In the oligopoly market, there are few firms which dominate the market. It is a highly concentrated…

Q: Aside from advertising, how can monopolistically competitive firms increase demand for their…

A: Monopolistic competition is an imperfect market structure in which there are large number of buyers…

Q: New, small firms often have trouble competing in oligopolistic industries because they cannot…

A: it is TRUE

Q: Which of the following of goods is most likely to be sold in an oligopolistic market? smart phones…

A: Smart phones,soybeans and winter gloves have more number of competitors and firms.

Q: Firms in monopolistically competitive industries want to maximize their profits. At what level will…

A: There are many firms producing differentiated goods in monopolistic competitive market.

Q: Oligopoly is the other form of imperfect competition. In this case the scale tilts more in favour of…

A: Cartels are group of organizations come together and form an agreement to work like monopoly. These…

Q: In long-run, all firms in monopolistic competition

A: To find:  In long-run, all firms in monopolistic competition

Q: QUESTION 6 Which of the following is not a characteristic of an oligopolistic market? there are many…

A: An oligopoly is a form of imperfect competition that has a small number of sellers and a large…

Q: firm that can sell as much as it can produce at the market price is likely operating in: A. an…

A: Market Competition: Rivalry is the competition between organizations selling comparable items and…

Q: Washing powders are often heavily advertised because a. Consumers need to know the exact…

A: Basics:-  Goods like washing powder are goods of daily use (necessity) those have usually inelastic…

Q: An oligopoly firm is similar to a monopolistic ally competive form in that Both firms face the…

A: Oligopoly is an imperfect market structure, in which a few suppliers sell goods in the market.…

Q: You are hired as a consultant to a monopolistically competitive firm. The firm reports the following…

A: A monopolistically competitive firm will maximize profit if price (P) is higher than marginal cost…

Q: Cite an example of an oligopolistic industry in the Philippines and discuss how these oligopolists…

A: Oligopoly is a term used in economics to define a particular sort of competitive environment. The…

Q: In short run, a firm in monopolistic competition

A: Following are the features of a firm in monopolistic competition: 1. Large number of buyers and…

Q: What is the explanation for the kink in the kinked demand carve of an oligopolistic?

A: Kinked demand curve is a theory related with oligopoly and monopolistic competition. It is an…

Q: Why does price leadership sometimes evolve in oligopolistic markets?

A: Price leadership refers to the competiton among firms to get some control over market price and…

Q: the concept of Duopolistic competition and briefly describe the 3 main models of duopolistic…

A: A type of oligopoly known as a duopoly occurs when just two businesses control the market. A…

Q: An oligopolistic market structure is distinguished by several characteristics, one of which is…

A: In economics, an oligopoly refers to a market structure made up of many large corporations that…

Q: Efforts of oligopolistic firms to impact the demand for their product (other than price) are called…

A: Non price determinants are factors other than price which determine the demand of the product but…

Q: Let's say that you know the following information for an oligopoly firm:Total Revenue equals $200…

A: The oligopoly is a market structure which is characterized by the presence of a few large sellers in…

Q: If the firms in a monopolistically competitive market are earning economic profits or losses in the…

A: In a monopolistic market, the eqm. occurs at a point where the MR(marginal revenue) and MC(marginal…

Q: Explain the impact of change in demand and supply on the price level under oligopolistic market…

A: Oligopolistic firms can stifle industry production, charge a higher price, and split profits among…

Q: Explain two ways in which Oligopolists make use of non-price competition measures to sell their…

A: Answer: Oligopolistic market: it refers to the market where there is a small number of sellers.…

Q: Monopolistic markets tend to operate with some excess capacity. Explain

A: Excess capacity refers to the difference between the optimum output and the actual output produced…

Q: Firms in an oligopolistic market​ ________ because they are​ ________. A. attempt to predict the…

A: Oligopoly is a market structure in which a small number of enterprises sell homogeneous or…

Q: What effect does the entry of new firms have on the economic profits of existing​ firms? When new…

A: When new firms enter a monopolistically competitive​ market, the economic profits of existing firms…

Q: Oligopoly is the other form of imperfect competition. In this case the scale tilts more in favor of…

A: Cartels are the oligopoly organization.There is a leader firm in cartel.Leader firm sets the price…

Q: Compare an oligopolistic industry that has a great deal of communication among its members with an…

A: An oligopoly is a market structure that is characterized by the presence of a few large firms…

Q: Briefly explain price rigidity in oligopolistic markets using the kinked demand curve.

A: Oligopoly is the form of market structure where few large firms exist and sell differential products…

Q: Why is the equilibrium in an oligopolistic market less efficient than acompetitive market?

A: Oligopoly refers to the market structure where there are few firms dominating the market condition…

Q: Analyze a Monopolistic Competition or Oligopoly Market Structure

A: Monopolistic competition is a type of market structure that lies between two extreme forms of market…

Q: You are hired as the consultant to a monopolistically competitive firm. The firm reports the…

A: Here, two pricing situation of a monopolistic firm is given. A Monopolistic firm has different…

Q: Oligopolistic markets a) can have both homogeneous or differentiated p b) have a few large producers…

A: Oligopoly firms are covered under imperfectly competitive market.

Q: Question 43: In oligopolistic markets, explain the price rigidity using the kinked demand curve.

A: An oligopoly market is a system of markets in which there are multiple vendors (or firms) for…

Q: What factors hinder firms in monopolistic competition from earning economic profits in the long run?

A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers…

Q: What type of demand curve do we see with oligopolistic markets?  Draw an example

A: We are going to learn concepts such as kinked demand curve and oligopolistic market to solve this…

Q: Can excess profit be earned in an oligopoly?

A: Oligopoly is a market structure in which few sellers operate in the market.

Q: Determine long run equilibrium in a monopolistic competition.

A: In a monopolistic market structure there exists a large number of sellers of the goods in the market…

Q: As compared to monopolies, oligopolistic industries: are more efficient. are less efficient. O may…

A:

Q: In an oligopolistic market there are            many buyers.        few buyers.        few sellers.…

A: An ‘oligopoly market’ consists of small number of firms. All firms have significant influence on the…

Q: In the figure below, the firm is operating under an Oligopolistic market structure. If currently,…

A: Demand curve has a kink at price of 20, i.e., changes the slope at kink point.  The portion above…

Q: Because of substantial barriers to entry, monopolistically competitive firms can easily earn long…

A: The monopolistically market structure is characterized by firms selling similar products but goods…

Q: Q61 Tha use of cannabis was legalized in Canada in 2017. Assume that the  Canadian cannabis sector…

A: Answer: Given, The concentration ratio of four firms = 40 percent (where each firm has an equal…

Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.