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cooperative theory and concepts related to the role of cooperatives and the history of cooperatives.
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- there exists a fundamental contradiction in capitalist ideology: Competition is regarded as a virtuous necessity, but firms are driven to dominate particular industries in practice. explaine and analyze competition in Adam Smith and John Nash 's prespective. long and explanatory, detailed answer pleaseFor each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table. Scenario Number of Firms Type of Product Market Model A large city has lots of small shops where people can buy sweaters. Each store's sweaters reflect the style of that particular store. Additionally, some stores use higher-quality yarn than others, which is reflected in their price. There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer they can. While pasta manufacturers must pay licensing fees to their local government and undergo regular food-safety inspections, anyone who has passed inspections can acquire and maintain their license. Only three airlines fly from San Francisco to Medford, Oregon. No new airline will enter…Which of the following products/markets is most consistent with the perfect competition model? Apple iPhones a bustling farmers' market Kellogg's Frosted Flakes electric utilities automobiles 2 Adam Smith’s “invisible hand” refers to The mechanism that moves market price and quantity to equilibrium The natural tendency of markets to avoid monopolies and ensure competition The market’s incentive to lower price in order to increase quantity sold The lack of government role in the free market due to the market’s ability to self-regulate The tendency of firm’s to seek to merge in order to realize synergies and market dominance 3 A company facing inelastic demand for a product sees an increase in its costs after a worker strike forces a wage increase. What is likely to happen to the price and quantity sold of that product? Price will fall slightly while…
- If will you observe a successful cooperative in your community. What makes your local cooperative successful? In not less than 100 words, describe what factors attributed to its success.Using the Surplus Approach, describe how tendencies for concentration emerge from the regular functioning of competition between capitalist firms.Why is the perfect competition often used as a benchmark? Question 3 options: The perfect competition model is more frequently observed in the real world compared to other market models It provides a useful comparison to markets that operate in more complex, real-world conditions. It accounts for a variety of issues like pollution, inventions of new technology, poverty, and government programs that other models do not account for. In the real world, all markets are perfectly competitive, so this model allows us to compare them to one another.
- Fill in the table by the main characteristics of the competitive markets. Criteria: Pure and perfect competition Imperfect competition Monopolistic competition Oligopoly Monopoly Number of sellers Number of buyers Type of the commodity Price control Barriers of entry to the market Access to the market information Examples of real production marketsA contract is necessary because most firms cannot be trusted to act ethically in a cooperative venture such as a strategic alliance.” Do you agree with this statement? Explain your answer. Does the answer vary by country? Why?True and false statements (Justify your Statement with reason). i. The term imperfect competition refers to every market structure besides pure competition. ii. The demand curve for a purely competitive industry is perfectly elastic, but the demand curves faced by individual firms in such an industry are down sloping. iii. Fixed costs are costs that change directly with output. iv. Normative statements are expressions of facts.
