Explain the three important points of factor pricing under imperfect competition

Q: What are the major assumptions of the theory of imperfect competition. Please explain them in detail…

A: Assumptions of theory of imperfect competition 1.Many sellers and buyers There are many sellers and…

Q: What is the different between monoply profit and perfect competitive profit? Show them in grapphical…

A: Monopoly and perfect competition have more dissimilarity in regards pice charging , quantity produce…

Q: following i. equilibrium At the point of tangency between an Isocost line and an isoquant the firm…

A: The isocost line would result in the same cost with the different combinations of labor and capital.…

Q: is behavior in which resources are expended to protect a monopoly position. A. Competition O B.…

A: Monopoly is a market structure, where there is a single seller selling one commodity without close…

Q: dualit

A: When the firm is producing at the output level which maximizes profit, it would tend to choose the…

Q: A marginal cost pricing rule sets marginal cost equal to price O minimum average variable cost…

A: In economics, marginal-cost pricing is the practice of adjusting a product's price to equal the…

Q: Complete the following table to determine whether Kenji is correct. Price Quantity Demanded Total…

A: Total revenue = price × Quantity Total cost = ATC ×Quantity Profit = Total revenue - Total cost

Q: If multiple fırms colluding to charge higher prices would lead to higher profits than when competing…

A: In the market with big firms, there used to be some level of market power enjoyed by these firms,…

Q: Explain the three points of the factor pricing under imperfect competition!!

A: According to the given question The imperfect competition is known as the competition in which…

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: The daily demand for bungee jumping over a river in South Africa is given by Q=5000-200P. There are…

A: given, demand curve = Q= 5000-200P or, P = 25 -Q/200Total Revenue curve = P.Q = 25Q - 1/200Q^2…

Q: Evaluate and explain the following statement: Competition is the disciplinarian of the market…

A: The competitive market is characterized by a large number of buyers and sellers in the market, free…

Q: Does the perfect competition market structure have barriers? If so list specific barriers to entry…

A: In a perfectly competitive market, the equilibrium price and quantity of goods are determined at a…

Q: Using the IRAC rule,please answer and discuss the question. John entered into a contract for the…

A: IRAC is a method for answering exam questions. IRAC's goal is to go over a set of facts, find as…

Q: In the forces at play: model with horizontal product differentiation there are two and effects.…

A: In a market, there are different types of management system used by the firms when dealing with the…

Q: Inverse Demand Equation: P = 170 - 4Qd Marginal Costs=\$10; MR = 170 - 8Qd A perfectly -competitive…

A: The equilibrium condition: P=MC.

Q: Can excess profit be earned in the olipolistic industry in the long run. Explain.

A: There are certain barriers to the entry of new firms in oligopolistic industry. Due to these…

Q: In recent years in the brewing industry, a couple of large firms that have historically had most of…

A: The four forms of competition in the market are pure competition or perfect competition,…

Q: How often do perfectly competitive firms engage in price discrimination? a. Never. b. Rarely. c.…

A: Answer - Perfectly competitive Market - Perfectly competitive market is a market under which no firm…

Q: Googol and Visagetext are two social media platforms. When Googol was launched, many reviewers…

A: In a market, several competitors enter to challenge the existing ones and try to capture the maximum…

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: The table below shows the average cost (AC) for a purely competitive market. The average revenue…

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

Q: Suppose the market equilibrium price of wheat is Rs.2 per bushel in a perfectly competitive…

A: In above figure, vertical axis measures price of wheat and horizontal axis measures quantity of…

Q: 'Because a monopoly is the only source of supply, the firm is not constrained by the market demand…

A: The monopoly market is characterised by the single seller and many buyers while there are many firms…

Q: The retail price for milk is KZT 400 per liter. A store sells 200 liters of milk per day and plans…

A: When talking about perfectly competitive market, it can be said that the firms are price takers,…

Q: suppose the market equilibrium price of wheat is rs.2 per bushel in a perfectly competitive…

A:

Q: The inverse demand function is P = 200 – 2Q. Total cost is zero. Calculate output, price, and profit…

A: A demand function shows the relationship between price of a good or a service and its quantity…

Q: Is the Stackelberg leader guaranteed to make a higher profit than it would under standard Cournot…

A: None of the players in the Cournot Model understand interdependence. Therefore, continuing to…

Q: Perfect competition: 1. Show graphically how an individual firm attains equilibrium under perfect…

A:

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: which of the following is not among porter's competitive forces? changing consumer tastes power of…

A: Porter’s five forces framework is a method for examining competition of a business. It draws from…

Q: Larry, Curly, and Moe run the only saloon in town.Larry wants to sell as many drinks as possible…

A: The total cost incurred by firms operating in a market includes fixed costs and variable costs.…

Q: The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Buddies, a…

A: The marginal-cost is the cost incurred on the production of an additional-unit of output. And the…

Q: State what market structure exists in the hotel industry in Jamaica during the 1990s. Can excess…

A: An oligopoly is a form of market structure with a small number of firms, and no firm can keep the…

Q: Determine the best level of output for a perfectly competitive firm that sells its product at P = $4…

A: The best level of output is the one where the pure competitive company extracts the highest amount…

Q: ider Alpha (firm 1) and Bravo (firm 2), two types of firms in a competitive industry with cost…

A: Since you have posted multiple questions, we will solve the first one for you. If you want any…

Q: Compare and contrast the decision-making processes of a competitive firm versus a monopoly firm. a.…

A: Monopoly is kind of market set-up with a single buyer and very difficult to entry in such kind of…

Q: Consider two Stackelberg firms, Firm Alpha and Firm Omega, each with marginal costs of 50 and each…

A: Now, To find the quantity produced for each firm, we solve this Stackelberg Problem: The total…

Q: Olympus has integrated many components into its SLR camera. Recently, Olympus has introduced a…

A: Non-price rivalry is a showcasing procedure "wherein one firm attempts to recognize its item or…

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

A: Since the firms are price takers in perfect competitive market. They can't affect the market price,…

Q: What is the non price behavior of a perfect competition market structure. (Include examples)

A: Non-price competition  in the perfect competition involves the product, unique selling point,…

Q: PROBLEM Two firms (1 and 2) with total costs TC:(q) = 60q and TC2(q)=120q (hence the marginal costs…

A: Here two same products are being produced by the two firms firm 1 and firm 2. so, we have price of…

Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).