Question: In the following, please match each example with the type of market pricing competition it describes. There is only one provider of electricity in San
In the following, please match each example with the type of market pricing competition it describes.
| There is only one provider of electricity in San Diego County - SDGE. They have a lot of power to set prices. They set prices so that margin cost = marginal revenue, | Answer 1Choose...Oligopolistic CompetitionPrice FixingMonopolistic CompetitionPrice DiscriminationPure or Perfect CompetitionMonopoly |
| There is one market price for crude oil. In this type of commodity market, every supplier is a price taker | Answer 2Choose...Oligopolistic CompetitionPrice FixingMonopolistic CompetitionPrice DiscriminationPure or Perfect CompetitionMonopoly |
| We often see price wars in the airline industry. In this industry, there are a few big players and they pay attention to their competitors' pricing decisions and are likely to respond accordingly. | Answer 3Choose...Oligopolistic CompetitionPrice FixingMonopolistic CompetitionPrice DiscriminationPure or Perfect CompetitionMonopoly |
| In many branded consumer goods markets, there are many sellers each selling over a broad range of prices. Thus, you can get a pair of Fila running shoes for $40 or a pair of Nikes for $80. This type of market is best categorized as | Answer 4 Choose...Oligopolistic CompetitionPrice FixingMonopolistic CompetitionPrice DiscriminationPure or Perfect CompetitionMonopoly |
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