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- See the graph below, Label and Describe in terms of : A.Name of Market Structure B.Ability to control prices C.Spending on advertising and marketing D. Pure profit, Normal profit or losses.Safe = Profitable is a term you have heard in the second half of the course. Explain in Detail what this statement means.A. Illustrate and label graph of imperfect competition in movie theatre with detailed explanation B. Illustrate and label graph of economies of scale for movie theatres with detailed explanation
- Synthesize the latest findings/ results from the literature on firms and imperfect competitionMonoMed, having a Patent on production of a medicine, has following Demand and Cost Schedule : Price (Rs ) 12 11 10 9 8 7 6 5 4 3 Quantity 0 1 2 3 4 5 6 7 8 9 TVC ( Rs ) 0 13 16 20 25 31 38 46 56 68 Where Fixed Cost is Rs 5 d. Calculate the profit earned, if any and show the area on the firm’s graph.With examples, examine the barriers to business entry for imperfect competition firm
- {(P-ATC)*Q} and ATC-P*Q how are these two equations different and which one to use in profit maximization of market structure?Read the descriptions of the businesses provided. Determine the type of market structure and explain why. 1. Bill's Salmon Supplier: Bill's Salmon Supplier sells fresh salmon to local seafood restaurants. Every morning Bill sails out to sea to catch salmon, and each afternoon he returns to sell his catch to local restaurants. There are hundreds of other fishers catching and selling salmon. Because the salmon Bill catches is just like the salmon caught by the other fishers, he can't raise his price. 2. Healthy and Hearty Soups: Healthy and Hearty Soups produces a variety of soups. There is considerable competition in the soup market. However, Healthy and Hearty Soups has spent several million dollars on an advertising campaign to convince consumers that their soups are healthier than all other soups. Because of this advertising, Healthy and Hearty Soups charges a higher price than other soups on the market. 3. County Cable: County Cable supplies cable access to all local…which market structure(s) might firms produce a homogeneous product? Answer a. perfect competition only. b. monopoly only. c. monopolistic competition only. d. perfect competition and monopolistic competition. e. perfect competition and oligopoly.
- Question: Compare and contrast perfect competition and monopoly market structures. What are the key differences?Please Dont use AI tool.If Connecting U wants to MAXIMIZE its profits, what should they do? a) Connecting U should maintain their price at $16. Dropping the price would decrease their total revenue and profits. b)Connecting U should drop their price to $14.48. By dropping the price, they would increase their total revenue and profits. is the answer b? Note- look at the info on the right-hand side of the picExplain the term Deceptive practices?
