Direction: Give at least 3 examples for each type of market structure. As much as possible, avoid using those that are already mentioned in the concept notes. Market Structure Name/Nature of Firms Products/Services Offered a. Palunge / Supumarket b. a. Fruits and regetables cte. 1. Perfect Competition b. с. с. Oil Compantes b. a. Peroleum Producs b. а. 2. Oligopoly с. с. a. Fast food Restaurants a. Burgurs, Frics 3. Monopolistic Competition b. b. С. С. a. CELCOR in Cabana tuon aty a. Electric Poner b. 4. Monopoly b.
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- {(P-ATC)*Q} and ATC-P*Q how are these two equations different and which one to use in profit maximization of market structure?Adani Shantigram is a picturesque township on Ahmedabad-Gandhinagarhighway. The statement ‘The Good quality life’ shows the commitment ofthe developer towards ensuring that the residents enjoy all the amenitiesand services in the township at least cost and inconvenience. In order toensure competitive outcome, ATRICO (Adani Real Estate Arm) hasensured that for all the important services, many service providers arepresent, so that none of them can charge a high monopoly price from theresidents. Therefore, there are 4 milk parlours, 4 laundromats, 4photocopiers, 4 beauty saloons and 4 grocers in the township. Thisnumber ‘4’ has been decided in a high level meeting, where this wasdiscussed that having less than 4 will result in duopoly/tight oligopoly,and having more than 4 will require more space and therefore notpreferred.Last month, the ladies in ‘Water Lily’ complained that the prices chargedby beauty saloons in the township are very high. In order to address thecomplaints, details…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…
- Economics discuss how each of the following charasterics apply to the industries discussed in the case for analysis; 1. a large number of firms in the marker 2. an undifferentiated product 3. Ease of entry into the market or no barieres to entry 4. complete information available to all market participantsA. 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 explanationThis 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"?
- Subject: Menagerial economics & policy Mcq's 7) Which of the following is not a characteristic of perfect competition a) Perfect information b) Homogenous goods c)A small number of firms d) Free entry and exit 8) A few firms dominating an industry is an example of a) oligopoly b) monopoly c) monopolistic competition d) None of the above 9) A market structure in which many firms sell products that are similar but not identical is known as a) monopolistic competition b) monopoly c) perfect competiion d) oligopolyQ2. Which model's equilibrium price and quantity most closely matches perfect competition? a. Bertrand Competition with Identical Goods b. Stackelberg Duopoly c. Monopolistic Competition d. Cournot OligopolyQuestion: Which of the following market structures is characterized by a large number of firms, homogeneous products, free entry and exit, and perfect information? a) Monopoly b) Oligopoly c) Monopolistic competition d) Perfect competition Please give me correct answer and full explanation. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
- What element of perfectly free competition did M-Pesa mobile banking improve by putting the power and capacity of mobile phone banking in the hands of millions of new consumers who could now use their mobile phones to buy goods in the marketplace? A) Numerous buyers and sellers in the marketplace B) Goods so similar that buyers don't prefer one seller over another C) Full and perfect knowledge of what other buyers and sellers are doing D) No government interference in pricing in the marketplacewhich 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.1.In differentiated oligopoly,the elasticity of individual market demand is smaller than in the case of pure oligopoly.Explain this statement in not more three sentences 2.As a prospective production manager of an agribusiness firm whose average variable cost of production is greater than the price per unit of its product in a competitive market indicate ,in not more than four sentences, how would you advice management concerning the operations of the firm 3.Assuming you are the production Economist in a farm firm whose elasticity of production is negative indicate,in not more than 3 sentences, how would you advice management concerning the operations of the firm