An oligopolist faces a kinked demand curve. In your own words, describe why firms face this situation.

Q: Differentiate between oligopoly and pure monopoly.

A: Oligopoly is the market structure in which there are few firms which sell either differentiated or…

Q: All imperfect competitors; pure monopoly, oligopoly, and monopolistic competition face downward…

A: The two broad categories of market forms namely perfect and imperfect competition differ largely on…

Q: monopolist, as opposed to a company in a perfectly competitive market:

A: Perfect competition market ;- where large numbers of sellers and buyers exist and exchange…

Q: An oligopolist faces a kinked demand curve.  In your own words, describe why firms face this…

A: When a requirement curve isn't a line however has variable physical property at higher and lower…

Q: This chapter discusses companies that are oligopolists in the market for the goods they sell. Many…

A: a) Sellers are the oligopolists and as they try to increase the price of the good that they are…

Q: Which industry would be the best example of an oligopoly? Multiple Choice Fast food Retail clothing…

A: An oligopoly is a business system in which only a few companies can prevent the others from exerting…

Q: Explain with diagram why an oligopolist (with few competitors) pays more attention to what its…

A: The perfect competition is characterized by the large number of buyers and sellers in the market.…

Q: If monopolies are typically considered inefficient, why would the government grant firms such as…

A: Monopoly refers to firms having a huge market share in the economy. A monopoly firm is one that is…

Q: Economics Describe two of the factors that make up monopolies.

A:

Q: An oligopolist faces a kinked demand curve.  In your own words, describe why firms face this…

A: Oligopoly: - it is a market condition where there are few firms or sellers in the market selling…

Q: A market consisting of many sellers who sell similar but not identical products is an example of…

A: Market structure are of different forms each having its own set of features and characteristics.…

Q: A market has a cost or benefit not internalized , unclear property rights, and high transaction…

A: Cost is the money that a company incurred to manufacture the products and services for consumption…

Q: While oligopolies are generally inefficient, limit pricing may keep prices closer to competitive…

A: A pure monopoly maximizes profits by producing that quantity where marginal revenue = incremental…

Q: In order from highest to lowest (1 being highest, 3 being lowest), order the quantity of goods…

A: In case of Monpoly there is a single seller who controls the entire market. There are strict…

Q: Explain the concept of price leadership in an oligopoly market Need the answer as soon as possible

A: Basic concept In simple words we can say that the price leadership always serves as a means to the…

Q: With a kinked demand curve, can an oligopolist increase revenue by raising or cutting price?…

A: The kinked demand curve model introduced by Paul Sweezy explains the price rigidity that is often…

Q: Critically evaluate and explain each statement: Because they can control product price, monopolists…

A: A monopolist is the seller in the market which deals in selling a commodity which has no close…

Q: Consider an oligopoly industry whose firms have identical demand and cost conditions. If the firms…

A: ANS A pure monopoly is a market structure in which there exists only one seller and many buyers, the…

Q: Does a monopolistic competitor produce too much or too little output compared to the most efficient…

A: Monopolistic  competition: Monopolistic is a market situation where a large number of firms are…

Q: The covid-19 virus has caused a high demand for three brands of vaccines Johnson and Johnson,…

A: Demand is the total quantity of commodities for which the customers are ready to pay different…

Q: Explain why it is not possible for a monopoly firm to maximize its profits by charging a price in…

A: >A monopoly is a profit maximizer. It is the only seller in the market selling the good with no…

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: Some analysts consider oligopolies to be potentially less efficient than monopoly firms because at…

A: * ANSWER :-

Q: The term oligopoly indicates

A: Oligopoly may be a market structure with alittle number of firms, none of which may keep the others…

Q: The four types of market structures we study in economics are perfect competition, monopoly,…

A: In Economics there are a wide range of market frameworks that exist, contingent upon the business…

Q: Does a monopolistic competitor produce too much or too little output compared to the most…

A: A monopolist is a single supplier to a market. The goods produced by a monopolist do not have close…

Q: List several reasons that monopolies exist,and explain how each causes barriers to entry

A: A monopoly is a form of market – there exists only a single producer. They earn supernormal profits…

Q: How is an oligopoly market different from monopolistically competitive market in respect of price…

A: In oligopoly, there are lesser number of firms and they own large shares of the market, whereas in…

Q: What conditions may permit oligopolies to discriminate consumers?

A: Oligopoly is the market situation where there are few large firms and many buyers. Each firm has…

Q: Explain why government is usually more concerned about regulating an oligopoly than…

A: Monopolistic Competition is a market structure described by a separated item and opportunity to…

Q: An oligopolist cares very much about what other firms in her industry are doing. true or false

A: Thus, an oligoOligopoly may be a market structure with atiny low number of firms, none of which…

Q: Some analysts consider oligopolies to be potentially less efficient than monopoly firms because at…

A: Answer - Need to find - Some analysts consider oligopolies to be potentially less efficient than…

Q: Explain how Oligopolists are interdependent.  Give any example of your choice from different…

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

Q: An oligopolist faces a kinked demand curve. Describe why firms face this situation.        Theory…

A: Oligopoly is a market structure where industry is dominated by the smaller number of large sellers.…

Q: Discuss and elaborate the differences and similarities between perfect competition, monopoly and…

A: The structure of market refers to the characteristics of a market on the basis of the number of…

Q: What is the prisoner's dilemma? the game that demonstrates the basic problem facing noncolluding…

A: Market is a place where buying and selling of goods and services takes place. Prisoner's Dilemma is…

Q: An oligopolist faces a kinked demand curve.   Why do firms face this situation?

A: Oligopoly:An oligopoly market refers to the market situation where few sellers exist. However, a…

Q: Discuss why a producer in an oligopolist market ("few" competitors) will pay closer attention to…

A: Market structure- It is the degree and nature of competition in the market for goods and services.

Q: As their respective names imply, monopoly and monopolistic competition are the most similar of the…

A: Monopoly refers to the market structure with the features of a single seller and more buyers and…

Q: If you play a game of monopoly with your family/friends or electronically. How do you: Discuss…

A: 1.The game is named monopoly because there is single seller and not few sellers.

Q: What is the name for a group of firms operating in an oligopoly that have a formal agreement to…

A: Oligopoly Market: It is a market situation where few sellers exist and this market lacks uniformity.…