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1- competitive market:
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4-oligopoly:
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- Which market has market power or not and is it good to have market power or not: 1- competitive market: 2-monopoly : 3-monopolistic competition : 4-oligopoly:Suppose, Pfizer Company is the only company allowed by the Sultanate government to sell COVID vaccine in Oman. According to you, what type of market Pfizer Company is having in Oman? a. Monopoly market b. Monopolistic market c. Competitive market d. Oligopoly marketHow to maximize profits In: 1- competitive market: 2-monopoly : 3-monopolistic competition : 4-oligopoly:
- How is monopolistic competition like monopoly, perfect competition and oligopoly? Give two examples of price discrimination. In each case, explain why the monopolist chooses to follow this business strategy Why does price equal marginal revenue for the perfectly competitive firm? What is the relationship to the demand curve for the firm?That is correct! Наpру Economics Mentor Okay, I think we can now determine what kind of market you operate in. Kim There are four main types of markets: perfectly competitive, monopolistically competitive, oligopolies, and monopolies. Kim The corn market- an agricultural market – is which kind of market? Kim a monopolistically competitive market an oligopoly a perfectly competitive market a monopoly Submitwhat market inefficiencies derive from monopolies and monopolistic competition?
- In economics, what is the term for a market with only one seller, producing a unique product with no close substitutes? A. Oligopoly B. Monopolistic competition C. Perfect competition D. MonopolyWhat are monopolies and oligopolies? How do they tend to differ from businesses in a market where there is free-market competition? Why do they exhibit such differences?What is the economic term for a market structure characterized by a single seller who produces goods or services for which there are no close substitutes, and high barriers to entry prevent other firms from entering the market to compete? A. Oligopoly B. Monopoly C. Perfect Competition D. Monopolistic Competition
- Why might governments seek to regulate monopolies? A. Most monopolies are created through corrupt practices B. Most monopolies are highly efficient at allocating resources, which limits competition C. Monopolies can lead to socialism D. Most monopolies allocate resources inefficientlyWith the aid of a diagram explain how a monopolist determines how much output to produce and what price to charge. b. Explain how the perfectly competitive firm decides whether to operate or shut down in the short run. c. Explain why firms operating in monopolistically competitive markets probably will not earn an economic profit in the long run. d. Why does interdependence of firms play a major role in oligopoly but not in perfect competition or monopolistic competition? Question 2a. A producer borrows money and starts a business. He himself looks after the business. Identify implicit and explicit costs from this information. Explain. b. List and explain which of the following is a fixed cost or a variable cost for Caribbean Airlines. i. The cost of fuel used in its planes. ii. The rent on its Piarco headquarters. iii. The lease payments on its current inventory of jets. iv. The cost of peanuts it serves to passengers. v. The salary paid to the Chief Executive Officer. c. How is…1. If Sam and Jack each produce the same quantity of appointments as would be produced in perfect competition, the total quantity of appointments is ___ the price per lesson would be ____ , and the economic profit of Sam and Jack would be____? 2. If Sam and Jack form a cartel and produce the same quantity of appointments as would be produced in a monopoly, the total quantity of appointments would be ____, the price per appointment is ____ and the economic profit of Sam and Jack is ____? 3. Would Sam and Jack have an incentive to break the cartel agreement and lower their price to increase the number of tennis lesson appointments?
