Monopolistic competition means that firms have downward-sloping demand oligopoly firms collude until they become monopolies firms...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Monopolistic competition means that firms have downward-sloping demand oligopoly firms collude until they become monopolies firms are in perfect competition, but they collude similar to monopolies firms are in a monopoly, but they compete firms differentiate their output, which makes them price makers, but barriers to entry are low or nonexistent. Question 30 One critical characteristic of monopolistic competition is that one firm dominates the industry. a few firms compete without agreeing on price a few firms collude with each other by agreeing on price. there is one large firm in the industry, but it has no control over the price. there are many small firms in the industry. Monopolistic competition means that firms have downward-sloping demand oligopoly firms collude until they become monopolies firms are in perfect competition, but they collude similar to monopolies firms are in a monopoly, but they compete firms differentiate their output, which makes them price makers, but barriers to entry are low or nonexistent. Question 30 One critical characteristic of monopolistic competition is that one firm dominates the industry. a few firms compete without agreeing on price a few firms collude with each other by agreeing on price. there is one large firm in the industry, but it has no control over the price. there are many small firms in the industry.
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below The correct statem... View the full answer
Related Book For
Macroeconomics Principles and Applications
ISBN: 978-1133265238
5th edition
Authors: Robert e. hall, marc Lieberman
Posted Date:
Students also viewed these economics questions
-
1. How strong are the competitive forces confronting J. Crew in the market for specialty retail? Do a [Michael Porter] five-forces analysis to support your answer. (see chapter 3 in the textfor...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
The American Chamber of Commerce Researchers Association compiles cost-of-living indexes for selected metropolitan areas. Shown here are cost-of-living indexes for 25 different cities on five...
-
Suppose 72.3 J of heat are added to a 101-g piece of aluminum at 20.5 C. What is the final temperature of the aluminum?
-
On March 2, 2022, the accountant for Bergen Carpet Co. of Edmonton was injured in a skiing accident and was advised not to return to work for six weeks. The owners of the company are anxious to...
-
Douglas Singletary purchased a mobile home from P&A Investments, Inc. d/b/a Andys Mobile Home and Land Sales. On November 17, 2007, Singletary entered in a sales agreement with Andys to purchase a...
-
Canine Kernels Company (CKC) manufactures two different types of dog chew toys A and B, sold in 1,000-count boxes) that are manufactured and assembled on three different workstations (W, X, and Y)...
-
An owner arrives to collect her dog's prescription for ampicillin tablets. The dog weighs 23 kg and the dose of ampicillin suggested by the vet is 15 mg/kg/t.i.d. You have the tablets available in...
-
Hooyay is a low cost manufacturer of smartphones in Myanmar. They recently listed in 2017 on the Singapore Exchange and did not issue any dividends for 2017 and have no plans to for 2018. They do...
-
Discuss the various types of sampling and when it would be appropriate to use each one. 2. What are some disadvantages of mail surveys? Discuss strategies to eliminate them. 3. Suppose a student...
-
Question 4 of 6 < > The following costs were incurred by a manufacturing company: Materials used in product Depreciation on plant Property taxes on plant Labour costs of assembly-line workers Factory...
-
Pinar Company reported a net income of $30,000 for the year ended December 31, 2023. During the year, accounts receivable decreased $15,000, merchandise inventory increased $25,000, accounts payable...
-
A manufacturing company's operations are impacted by tariffs imposed by Brazil on exports from the United States that only affect a particular product. This represents what type of risk? a. Industry...
-
Q1. (30 pts.) Recall from somewhere? Consider this as a second chance and do your best to benefit from this favor. Consider a database with the following scheme: Captain: captainID, name, experience,...
-
If a company's future cost of capital increases as a result of a capital investment, what type of risk is this? a. Project risk O b. Corporate risk O c. Beta risk O d. Market risk
-
Keevesan Sdn Bhd, manufactures bathroom accessories. The paid-up ordinary share capital is RM1 million as at 1st January 2020. The financial year is ended 31 December. The following expenditure was...
-
Give the products of the following reaction, where T is tritium: dioldehydrase Ad- CH CH3C-COH CoIII) coenzyme B12
-
Suppose that Pattys Pool has the demand data given in Table in the chapter. Further, suppose that Patty has just two types of costs: (1) rent of $25 per day and (2) towel service costs equal to 50...
-
Some have argued that the music industry is by nature inefficient because once a piece of music is produced, the firm that owns it has a monopoly and charges the monopoly price. Yet, the marginal...
-
The owner of an optometry practice, in a city with more than a hundred other such practices, has the following demand and cost schedules for eye exams: a. Fill in the columns for total revenue,...
-
A Consider \[\begin{cases}\dot{x}_{1}=-x_{1}\left|x_{1} ight|+a x_{2}-\frac{2}{3}+\sin t & x_{1}(0)=\frac{2}{3} \\ \dot{x}_{2}=-x_{1}-\frac{1}{2} x_{2}-1, & x_{2}(0)=1\end{cases}\] where \(a\) is a...
-
The governing equation for an RLC circuit driven by the applied voltage \(v_{a}(t)\) is derived as \[L \frac{d i}{d t}+R i+\frac{1}{C} \int i d t=v_{a}(t)\] where \(L=4 \mathrm{H}, R=4 \Omega\), and...
-
The pendulum system in Figure 8.35 consists of a uniform thin rod of length \(l\) and a concentrated mass \(m\) at its tip. The friction at the pivot causes the system to be damped. When the angular...
Study smarter with the SolutionInn App