Differentiate between Perfect Competition and Monopoly?

Q: Economics Supposes Monopharm wants to maximize profit, what quantity does it sell, what price does…

A:

Q: what is the similarities between perfect competition and monopoly?

A: Perfect competition and monopoly markets, both two different market structures. however, there are…

Q: Explain using a two-dimensional graph how imperfect competition brings a loss of economic…

A: The imperfect competition causes loss of efficiency. The efficiency is achieved where the P = MC.

Q: Why monopoly firm earns abnormal profit in the long run?

A: Monopoly firm is the single seller of its product without any close substitute which gives monopoly…

Q: Which is better: Perfect Price Discrimination (1st Degree Price Discrimination) or Perfect…

A: In a market, perfect price discrimination refers to the situation when a producer charges different…

Q: What quantity would be produced if the monopoly becomes a perfectly competitive industry according…

A: In perfect competition, any profit-maximizing producer faces a market price equal to its marginal…

Q: Assuming the firms are Bertrand duopolists, what is likely to happen? Explain verbally?

A: In a Bertrand game, there exist only two firms producing an identical product and they choose the…

Q: How does a demand curve differ in perfect competition from a demand curve in a monopoly?

A: To show the difference between the demand curve under perfect competition and the demand curve under…

Q: Apple faces competition from many other firms in the world market for mobile  phones; therefore,…

A: Apple has been the top brand in the world of smartphones. Apple has the exclusive right to use IOS…

Q: Under what condition is a monopoly preferred to perfect competition? Use a diagram to explain your…

A: Under perfect competition, there are large number of buyers and selling selling homogeneous goods.…

Q: explain  what happens to a monopoly firm operating in the long-run.

A: A monopoly is a single seller that has control over the market supply. This implies monopoly is a…

Q: What are the major characteristics of a firm competing under conditions of monopoly?

A: Some important characteristics of monopoly market are listed as follows.

Q: What is monopolistic competition? 30 words

A: The structure of markets where differentiation and classification are done on basis of competition…

Q: If the monopoly in the figure were to be broken up into many small firms, the competitive…

A: We have to find given diagram  answer.

Q: Compare the long-run equilibrium position of a perfectly competitive firm and a monopolist.…

A: Perfectly competitive firm is one of many firms and monopoly is a single firm in the market

Q: One of the sources of Monopoly market power is their Economies of Scale. What will happen when…

A: When there is economies of scale in monopoly market,monopoly firms can expand their business on a…

Q: Differentiate between perfectly competitive market and monopoly

A: The measure that depicts classification and differentiation of industries being based upon nature…

Q: Is it bad for consumers if a large corporation drives down prices to eliminate competition? Explain

A: A situation when two or more rival companies lower the prices of a similar product with the aim to…

Q: Is collusion by a group of sellers or buyers possible in a market of pure and perfect competition?…

A: Collusion is a secret, non-competitive, and in some cases illicit arrangement between rivals which…

Q: Discuss the forms of competition that exist in amarket.

A: A ‘market’ refers to a place where the goods are bought & sold. The goods are exchanged at the…

Q: What is meant by diminishing costs and monopoly (imperfect competition)

A: Answer -

Q: Monopoly in simple words

A: A monopoly is one of the market structure among four important market structures.

Q: How is monopolistic competition like monopoly? How is it like perfect competition? Discuss briefly.

A: Monopolistic competition refers to the situation where there are many firms exists in the market.…

Q: What are the features of monopoly market?

A: Monopoly is a market where there is single seller who sells unique product in the market and can…

Q: What is monopolistic competition?

A: Structure of the market is classified on the basis of number of buyers and sellers, product…

Q: Write down the differences between Monopoly and Perfect Competition?

A: Meaning of Perfect Competition: The term perfect competition refers to the market under which…

Q: From a societal point of view, can we claim that perfect competition and monopoly are equally…

A: Answer: Monopoly and perfect competition both are extreme forms of market structure, perfect…

Q: Explain profit maximisation. Discuss price discrimination and the role it plays in perfect…

A: Perfect competition refers to the form of market structure that consists of large sellers of a…

Q: Compared to perfect competition there is a social cost under monopoly do you agree? Explain using…

A: The perfectly competitive market is a type of market structure where there are large number of…

Q: How is monopoly different from perfect competition?

A: A market is a place where the buyers and sellers interacts with each other party and determines the…

Q: Can the absence of government intervention be a similarity between perfect competition and monopoly?

A: Perfect competition and monopoly are two types of market structures.

Q: competition. Which is more efficient? Explain your reasoning and

A: Monopolist profit will maximizing where marginal cost equal marginal revenue. MR= MC  In Perfect…

Q: Identify and discuss three ways in which a perfectly competitive market structure differs from a…

A: Perfect competition is a market structure in which there are many buyers and sellers and the firms…

Q: Compare the market structure of monopoly to perfect competition.how do they diffe

A: Different forms of market structures differ in their level of competitiveness, ranging from highly…

Q: Reason for an emergence of monopoly

A: A market arrangement known as a monopoly has just one vendor who has complete market control.…

Q: Briefly contrast perfect competition and monopoly to explain a monopoly may or may not display…

A: Microeconomics refers to the branch of economics that studies the behavior of individuals and firms…

Q: what is monopolistic competition economic profit?

A: What is monopolistic competition economic profit? Monopolistic competition is a market structure…

Q: With the aid of a diagram explain how a monopolist determines how much output to produce and what…

A:

Q: Analyze graphically the difference between monopoly and perfectly competitive market

A: The difference is given below

Q: Supermarket checkout lines all tend to be roughly the same length. Why is that? Explain your answer…

A: Perfect competition refers to the situation where there are large number of prouder and consumers…

Q: The major difference between perfect competition and monopolistic competition is

A: To find : Major difference between perfect competition and monopolistic competition

Q: What is NOT a common reason for the development of a monopoly? options:   All other answers are in…

A: A monopoly refers to a market structure in which there is only one seller. There are no competitors…