Describe several strategies that companies can use to remain competitive in the globa economy

Q: What are the two essential characteristics of a competitive market?

A: ANS A competitive market is a market in which there exist many sellers selling homogeneous goods to…

Q: Be sure to label the graphs.   Suppose in the competitive market for a good known as “Tovars” that…

A: a. The short run effect of perfectly competitive firm can be illustrate as follows:

Q: The Weinandt Family Farm in Wynot, NE raises livestock and grows crops. Commonly grown crops in…

A: Since you have posted a question with multiple subparts, we will solve only three subparts for you.…

Q: The reason why the most efficient firms in a Melitz industry make greater profits under free trade…

A: Meaning of Heterogeneous Firms and Trade: It emphasizes the firm-level choices in understanding…

Q: The reason why the most efficient firms in a Melitz industry make greater profits under free trade…

A: Increasing returns to scale refers to the situation where the increase in output is more than the…

Q: Suppose the market for bottled water and the market for soft drinks both have large numbers of…

A: ANS For a market to be competitive the producers must sell homogeneous goods such that the consumers…

Q: use relevant diagrams as well as microeconomic theory, discuss why competitive firms stay in…

A: In the long run, a firm in a perfectly competitive market will only make a normal profit(zero…

Q: The Weinandt Family Farm in Wynot, NE raises livestock and grows crops. Commonly grown crops in…

A: Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Analyse, in two different partial equilibrium models, what the implications of reducing each of…

A: The introduction of improved storage technology means households can reduce their food wastage.…

Q: Economics Firms in competitive markets can only earn economic profits in the long run, once the…

A: Competitive balance is accomplished while profit-maximizing makers and utility-maximizing consumers…

Q: In the year 2000, the town of Cuenca in Batangas did not have mountain resorts. Because of the…

A: The market structure can be divided into four based on the degree of competition and the type of…

Q: Identify an industry where small and large businesses compete with each other. If you own one of the…

A: Many small business owners view huge corporations solely as competitors. This description is valid…

Q: Evaluate the following statements: e. "I hate golf, but I paid so much for the clubs that I can't…

A: Profit maximizing output is where marginal revenue is equal to marginal cost.

Q: There is equilibrium in the purely competitive market for oranges, and the optimal amount of oranges…

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the…

Q: Why can't firms enter the market in the short-run?

A: There are various types of market structures which have different characteristics of the number of…

Q: How would a pizzeria in a densely populated area with 20 to 50 competitors thrive in a pure short…

A: The pizzeria could thrive in short run than long run, because of several factors. In short run, it…

Q: Assume firms decide to enter the market, how will this affect market price and quantity in the long…

A: In a market with perfect competition, every manufacturer offers the same products or services. There…

Q: Show in a graph a situation when a competitive firm will minimise loss in the short run. Why will…

A: A situation when a competitive firm is making loss in the short run Here, MC= marginal cost MR =…

Q: William Shepherd’s research of U.S. industries showed a clear trend in the competitiveness of the…

A: The competition is the increased presence of the competing firms in the market where the buyers can…

Q: a) Assume that the market for home transport of ready-made food from restaurants in a city functions…

A: (Since you have asked many questions, we will solve the first one for you. If you want any specific…

Q: Directions: For questions 29 31, imagine there are only two producers of coffee- Cool Beans Coffee…

A: Demand curve shows the various combinations of willingness to pay of a consumer at different level…

Q: WHY SOME FIRMS MIGHT BE ABLE TO CONTINUE TO MAKE AN ACONOMIC PROFIT IN THE LONG RUN?

A: A monopoly occurs when a single person or corporation serves as the exclusive supply of a certain…

Q: Explain how economics make profit or loss when firms are perfectly competitive.

A: In a competitive market there are large number of firms producing similar and identical products…

Q: Discuss how firms choose how much output to produce.

A: Total Cost is the amount of expenditure incurred in the production of goods and services.  Total…

Q: Competitive Trends in the U.S. Economy) William Shepherd’s research of U.S. industries showed a…

A: In between 1958 and 2000 the U.S economy’s competitiveness shows an increasing trend. The increase…

Q: Modified True or False: State whether each statement is true or false. If the statement is false,…

A: The equilibrium is established where the P=MC.

Q: 7. Short-run and long-run effects of a shift in demand Suppose that the tuna industry is in long-run…

A: Hi, thank you for the question. As per the guidelines, we are allowed to attempt only first…

Q: Which of the following explains why many small businesses struggle to compete with larger firms? o…

A: Small business:- tinny low business is outlined in concert that operates on tinny low scale and…

Q: Free exchange occurs under perfect competition and mutually benefits both consumers and producers.…

A: Free trade basically refers to  that countries can import and export goods without having to deal…

Q: At the beginning of the year 2021, three friends, Ebo, Michael and Joseph decided to set up a…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: How do firms in a competitive market work?

A: Perfect competition is a market where there are lage number of seller and buyers of identical and…

Q: Which one of the following variable, the firm can influence directly? a. Store location b. Consumers…

A: A firm refers to a business entity that provides goods and services to people and aims to maximize…

Q: What is brand equity? List the components of brand equity, and describe how they provide value to…

A: The premium value helps the company in generating a value of its own when it is compared to the…

Q: The reason why the most efficient firms in a Melitz industry make greater profits under free trade…

A: Increasing returns to scale refers to the situation where the increase in output is more than the…

Q: Explain at least three (3) modes that firms use to enter foreign markets. Please provide examples.

A: The definition of "global marketing" is the trading of commodities across international borders to…

Q: I DO NOT NEED THE CHART I ONLY NEED THE QUESTIONS Quantity of Output Total Cost  Marginal Cost…

A: Perfectly competitive market is the market in which there are large number of buyers and sellers…

Q: In competitive markets, there are many small firms with each firm unable to influence the market…

A: Given: Price = $20 TC = 50 +2Q + 3Q2 MC= dTC/dQ = 2+6Q

Q: nswer the following questions. 1. In the year 2000, the town of Cuenca in Batangas did not have…

A: There are different categories of market structure. Perfect competition, monopoly, monopolistic…

Q: For each of the following, is the business a price-taking producer? Explain your answers. a. A…

A: Price takers should acknowledge/accept the overarching market price and sell every unit at a similar…

Q: Provide some examples of specialized markets or retail outlets. What makes the Web so conducive to…

A: The specialization is the process of concentrating on the production of a specific product in which…

Q: Suppose the market for fresh pork is a competitive market. Initially, it is operating at its…

A: Given market price = $50 Decreased price = $30

Q: Evaluate the view that the main goal of firms will always be profit maximization.

A: Profit maximization is a condition when firms want to maximize their profit.  It is calculated by…

Q: Increasingly, instead of advertising in newspapers, individuals and firms use websites that offer…

A: a  print promotion can arrive at many clients and customers, while online publicists frequently…

Q: The reason why the most efficient firms in a Melitz industry make greater profits under free trade…

A: Marc Melitz is the author of the article "The Impact of Trade on Intra-Industry Reallocations and…

Q: What is special about a purely competitive market?

A: A perfectly competitive market is the market in which there is perfect competition amongst buyers…

Imperfect Competition

Imperfect competition is relatively easier to understand once people have the knowledge of perfect competition. When the five conditions of perfect competition are not made, that market structure is said to be imperfect competition.