Choose all of the market structures that satisfy the following: individual demand revenue = price. < Group of answer choices Perfect competition, monopoly, monopolistic competition, and oligopoly ( Only monopoly ( Monopoly, monopolistic competition, and oligopoly ( Perfect competition only = average

Choose all of the market structures that satisfy the following: individual demand revenue = price. < Group of answer choices Perfect competition, monopoly, monopolistic competition, and oligopoly ( Only monopoly ( Monopoly, monopolistic competition, and oligopoly ( Perfect competition only = average

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter28: Antitrust And Regulation

Section: Chapter Questions

Problem 2E

See similar textbooks

Similar questions

Assume the market for a product can be described as a Cournot duopoly with two identical firms. The Nash-equilibrium in this market is that the two firms produce the same quantity. Hence, they will have identical market shares, each will have 50%. Assume that firm 1 decides to invest in a technology that reduces its marginal costs. a) What will happen to the two firms market shares? You must explain how you find the answer. b) What will happen to total production and the price of the product? Again, explain your answer.
What are the key trade offs of imperfect competition? Group of answer choices 1-The monopolistically competitive market structure provides powerful incentives for innovation, but they never achieve productive efficiency in the long run. 2-The monopolistically competitive market structure provides powerful incentives for innovation, but the strongest firms in a monopolistically competitive market become oligopolists. 3-The monopolistically competitive market structure fails to achieve allocative efficiency, but the firms all face perfectly elastic demand curves. 4-The monopolistically competitive market structure allows firms to achieve economic profit in the short run, but the individual firms all face perfectly elastic demand curves.
What are examples of a monopolistically competitive firm, oligopoly, and monopoly in your local area? In your example, please relate to the market characteristics of each of the market structures?
Considering the slope of the perceived demand curves faced by the firms in the four market structures,____________ we can list (most elastic). A) price competitive, quantity competitive, non-price competitive, product differentiation. B) oligopolist, perfectly competitive, monopoly, monopolistically competitive. C) perfectly competitive, oligopoly, monopolistic competitive, perfectly competitive . D) monopolist, oligopolist, monopolisitcally competitive, perfectly competitive demand curves reflect that firm's ability raise its price without losing all of its customers.
(Collusive Duopoly Model) There are two firmsproducing widgets. It costs the first firm q1 dollars to produceq1 widgets and the second firm 0.5q2 2 dollars to produce q2widgets. If a total of q widgets are produced, consumerswill pay $200 q for each widget. If the two manufacturerswant to collude in an attempt to maximize the sum of theirprofits, how many widgets should each company produce?
evaluate the following statement:“Managers should specialize by acquiring only the tools needed to operate in a particular market structure. That is, man- agers should specialize in managing either a perfectly competitive, monopoly, monopolistically competitive, or oligopoly firm.”
This is a Microeconomics problem. (a) Give 2 reasons why the market structure of monopolistic competition may not necessarily require government regulation the way a monopoly market would. (b) What is a reaction curve in an oligopolistic market? (c) Describe the Stackelberg model and explain how the first mover in such a model gets an "advantage"?
In an economy with two Individuals ( A and B) discuss the results in exchange in the following situations 1. Perfect competition in which A and B accept prices as given by the market 2.A is a monopolistic and can set any price B chooses 3 A is a perfect price discriminator and can charge a different price for each unit tranded. 4 does each of these lead to a pareto efficient Solution ? It would be useful to work with an Edgeworth Box Diagram to present your solution
Why do oligopolies exist? Group of answer choices 1-A small number of firms have established barriers to entry using economies of scale, patents, and sheer size to prevent other firms from challenging them. 2-The members of an oligopolistic market have signed agreements that divide the market such that no other firms will be able to achieve their level of profits. 3-The oligopolistic firms are created, run, and supported by the government. 4-The members of an oligopolistic market are producing in the upward sloping range of their long run average cost curves.
There are two groups of firms below. Group 1: firms in the retail sector (e.g. Amazon; Wal-Mart; Target; Kohl's; Sears; Macy's) Group 2: firms in the wireless services industry (e.g. Verizon; AT & T; Sprint/T-Mobile) (this about telecommunication services, not about the sale of phones) For each group determine and explain if the group is monopolistic competitive or an oligopoly. You need to specific for both in which market structure the firms operate) Then choose one of the firms from one group. Using a Porter's analysis what are the threat to profitability?
I need help with econ multiple hw questions asap! 93) As the number of firms change in an oligopoly market, what will it become? A. As the number of firms increases, the market approaches a monopoly market equilibrium B. As the number of firms increases, the market approaches a competitive market equilibrium C. As the number of firms decreases, the market approaches a socially optimal equilibrium. D. As the number of firms decreases, the market approaches a cartel equilibrium. 92) Refer to the attached Table 40. If both stores follow a dominant strategy, what will SuperDuper Saver's growth-related profits be? A. $25 B. $250 C. $85 D. $50
As firms enter and exit a monopolistically competitive market, what happens to productive efficiency in the long run? Group of answer choices 1-Productive efficiency will not be reached because in the long run, economic profits reach equilibrium. 2-Prices will rise to unprecedented levels, and productive efficiency will be reached. 3-The strongest firms will survive and the market will morph into an oligopolistic market. 4-Price will eventually intersect the average cost curve at a point where price > average cost, and productive efficiency will not be reached