mcq31

Market structures are influenced by the following except which one? A. Pricing B. Inefficiency C. Supply D. Competition

a. Coca-Cola cuts its price below that of Pepsi-Cola to increase profit. b. A Single firm, protected by a barrier to entry, produces a personal service that has no close substitutes c. barrier to entry exists, but the good has some close substitutes d. A museum offers discounts to students and seniors e. A firm can sell any quantity it chooses at the going price f. A firm experiences economics of scale even when it produces the quantity that meets the entire market demand. 1. Which of the six cases are monopolies or might give rise to monopoly? 2. which are legal monopolies and which are natural monopolies? can any of them price discriminate? if so, why?

“Florida orange growers” advertise as a group, but individual orange growers do not. What does this fact suggest about the market for oranges? Why?

Below are businesses and a series of questions. Please help me fill in the table.  You will have to use the answers to the questions to figure out which market type each business fits into.    Below are the potential answers to questions 3 through 9 on the table.:     POTENTIAL ANSWERS 3. Size of Market Global, National, Regional, Local 4. Number of Buyers Many or Few 5. Number of Sellers Many, Few or One 6. Product Type Identical, Differentiated, Unique 7. Barriers to Entry High, Medium or Low 8. If high, why? Control Over Resources, Economies of Being Established, Economies of Scale, Legal Barriers (patents, licenses, ect.), Required Scale for Innovation, Economies of Platform 9. Market Type Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly Here's an Example Table Below: 1. Business Bank of America 2. Industry Banking 3. Size of Market National 4. Number of Buyers Many 5. Number of Sellers…

Below are businesses and a series of questions. Please help me fill in the table.  You will have to use the answers to the questions to figure out which market type each business fits into.    Below are the potential answers to questions 3 through 9 on the table.:   POTENTIAL ANSWERS 3. Size of Market Global, National, Regional, Local 4. Number of Buyers Many or Few 5. Number of Sellers Many, Few or One 6. Product Type Identical, Differentiated, Unique 7. Barriers to Entry High, Medium or Low 8. If high, why? Control Over Resources, Economies of Being Established, Economies of Scale, Legal Barriers (patents, licenses, ect.), Required Scale for Innovation, Economies of Platform 9. Market Type Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly Here's an Example Table Below: 1. Business Bank of America 2. Industry Banking 3. Size of Market National 4. Number of Buyers Many 5. Number of Sellers…

Below are businesses and a series of questions. Please help me fill in the table.  You will have to use the answers to the questions to figure out which market type each business fits into.    Below are the potential answers to questions 3 through 9 on the table.:     POTENTIAL ANSWERS 3. Size of Market Global, National, Regional, Local 4. Number of Buyers Many or Few 5. Number of Sellers Many, Few or One 6. Product Type Identical, Differentiated, Unique 7. Barriers to Entry High, Medium or Low 8. If high, why? Control Over Resources, Economies of Being Established, Economies of Scale, Legal Barriers (patents, licenses, ect.), Required Scale for Innovation, Economies of Platform 9. Market Type Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly Here's an Example Table Below: 1. Business Bank of America 2. Industry Banking 3. Size of Market National 4. Number of Buyers Many 5. Number of Sellers…

Below are businesses and a series of questions. Please help me fill in the table.  You will have to use the answers to the questions to figure out which market type each business fits into.    Below are the potential answers to questions 3 through 9 on the table.:   POTENTIAL ANSWERS 3. Size of Market Global, National, Regional, Local 4. Number of Buyers Many or Few 5. Number of Sellers Many, Few or One 6. Product Type Identical, Differentiated, Unique 7. Barriers to Entry High, Medium or Low 8. If high, why? Control Over Resources, Economies of Being Established, Economies of Scale, Legal Barriers (patents, licenses, ect.), Required Scale for Innovation, Economies of Platform 9. Market Type Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly Here's an Example Table Below: 1. Business Bank of America 2. Industry Banking 3. Size of Market National 4. Number of Buyers Many 5. Number of Sellers…

How does competition affect prices in a market system? How does it affect supply(what producers provide) and demand (what consumers want)?

a.  . Coca-Cola cuts its price below that of Pepsi-Cola to increase profit. b. A Single firm, protected by a barrier to entry, produces a personal service that has no close substitutes c. barrier to entry exists, but the good has some close substitutes d. A museum offers discounts to students and seniors e. A firm can sell any quantity it chooses at the going price f. A firm experiences economics of scale even when it produces the quantity that meets the entire market demand. 1. Which of the six cases are monopolies or might give rise to monopoly? 2. which are legal monopolies and which are natural monopolies? can any of them price discriminate? if so, why? 3. What are the distinguishing features of oligopoly? 4. Why are breakfast cereals made by firms in oligopoly? Why isn't there monopolistic competition in that industry? 5. Business Week reported that Energizer is gaining market share against competitor Duracell and its profit is raising despite the sharp rise in the price of zinc,…

If occupational safety laws were changed so that firms no longer had to take expensive steps to meet regulatory requirements, we would expect a.competition to force producers to pass the lower production costs on to consumers in the long run. b.the firms in the industry to make long-run economic profit. c.the market price of the products of this industry to decrease in the short run but not in the long run. d.the demand for the products of this industry to increase.

Identify markets in which you act as a buyer/demander and markets in which you act as a seller/supplier. A. Your purchase coffee in a coffee shop  B. You consider which politician to vote for an upcoming election.  C. You seek employment in the industry for which you have trained. D. You've written a book and several publishers are interested in purchasing the rights to publish your work.  E. You're considering which job applicant to hire at your company

Discuss it in your own understanding and then give example each of the following:   Tangible and Intangible Market Structure ( Perfect Competition,Monopoly Competition and Oligopoly Competition) Price and Production Local and National market Consumer and Producer goods Demands Law of demand Utility and Demand

What are the concepts, reasons and effects of market failure? Note: list them down.

An example of a barrier to entry in a market is:A. Lack of profitable opportunities.B. Increasing cost of production.C. Inelastic market demand.D. Government licensing requirement.

Take a practical example to describe a form of market structure. Draw illustrations if needed.

Please submit the answer and then watch the video feedback.Farmer Ted sells 1,000 bushels of wheat at a price of $5 per bushel in a competitive market. Wilma sells 5 gallons of water at a price of $5 per gallon in a monopoly market. If both Farmer Ted and Wilma want to sell a higher quantity, what happens to their respective prices? a.Farmer Ted's price remains constant and Wilma's price decreases. b.Farmer Ted's price decreases and Wilma's price remains constant. c.Farmer Ted's price remains constant and Wilma's price increases. d.Both Farmer Ted's and Wilma's prices decrease.

Define a perfectly competitive market. A. Market that makes it possible for firms or businesses to reduce the quality of their products or services in order to cut their own costs B. Market model where many firms and businesses compete against each other to create an innovative product at the best cost, which ultimately benefits society C. Market where a firm or business has no competition in manufacturing a good or providing a service D. Market with few sellers and many buyers

a. Most developing countries have been struggling to achieve economic growth and economic development. As a policy maker explain what advice you would give to these countries to achieve both economic growth and economic development.    b. Suppose the widget industry is perfectly competitive and faces constant returns to scale. A monopoly purchases all widget producers in the market. List three ways in which the market outcome under monopoly will differ from the market outcome under perfect competition.

Q.  An industry is “efficient” when:   a. Firms maximize profits using MC = MR   b. Societies valuation of the product is more than the cost         of producing the product (P> MC)   c. Firms lower the price to sell one extra unit of output      (P> MR)     d. Societies valuation of the product is equal to the cost of      producing the product (P = MC)     e. Firms sell all units of output at the same price (P = MR)

Explain why firms would or would not worry about future competition in each market. Explain how this would impact each firms profits.

The five forces that affect the structure of competition in a particular market do NOT include: bargaining power of buyers. bargaining power of suppliers. potential regulation. existing competitors.

A market structure that is “monopoly” is NOT ... Group of answer choices   a. production efficient b. allocation efficient c. neither allocation nor production efficient

Characteristics of competitive markets The competitive market model depends on the following three core assumptions: 1. There must be many buyers and sellers—a few players can't dominate the market. 2. Firms must produce an identical product—buyers must regard all sellers' products as equivalent. 3. Firms and resources must be fully mobile, allowing free entry into and exit from the industry.   The first two conditions imply that all consumers and firms are price takers. While the third is not necessary for price-taking behavior, assume for this problem that a market cannot maintain competition in the long run without free entry. Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of why or why not. Scenario Is the market competitive? There are thousands of ninth and tenth graders in need of geometry tutoring services in Chicago. Of the twenty or so companies in town currently…

Use the attached graph #2 to model the following. a. What is the price and quantity of this market? b. Is this a competitive market or monopoly? c. What is the profit or loss in this market for this firm? d. What is the deadweight loss in this market, if any? e. In this market the demand curve is what? i. Short run ii. Long run f. In this market the supply curve is what? i. Short run ii. Long run

Use the following information to answer questions 1 to 5. A firm is deciding whether or not to enter a new market. The decision tree for the firm is provided below. The prompt below the decision tree explains how the decision tree was created. Enter Do Not Enter Allowed 0.9 Denied 0.1 3 Research No Research Good 0.7 Bad 0.3 5 6 Produce Sell Produce Sell Produce Sell 8 9 10 High 0.75 Low 0.25 High 0.25 Low 0.75 High 0.6 Low 0.4 Profit (5000s) 1200 -800 -200 1200 -800 -200 1400 -600 0 -100 0 At node 1, the firm must decide whether to enter the new market or not. The cost of attempting to enter is $100,000. The upper branch from node 2 shows that the firm has a 0.9 probability of being allowed to enter the market. If the firm is allowed to enter, it will have to pay $1,500,000 to buy the facilities required to become a part of the market. Node 3 shows that the firm will then consider doing a research study to forecast demand for their new product prior to beginning production. The cost of…