How is non-price competition different from price competition?

Q: Discuss the economic conditions that are necessary to achieve productive and allocative efficiency…

A: Productive efficiency: The productive efficiency exists at a level where per unit cost of producing…

Q: Why might a service business be more selective than a goods-producingbusiness regarding the…

A: Supply is the relationship between the price of a commodity and the the goods and services to be…

Q: Which of the following is not an essential condition of pure competition?

A: Perfectly competitive market refers to the market structure where the large number of buyers and…

Q: Strictly speaking, pure competition has never existed and probably never will. Then why study it?

A: ANS Pure competition is the form of market where there are many sellers & many buyers and the…

Q: What is then the use or relevance of the purely competitive model?

A: Pure competition is a market system in which multiple firms compete for the same clients. The best…

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: Which form of market structure is characterised by interdependence in decision-making as between the…

A: To find:  Which form of market structure is characterised by interdependence in decision-making as…

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: What is the relationship between economies of scale and the level of market competition?

A: Economies of scale help more than just the company that produces the goods. Consumers will benefit…

Q: Find supporting evidence that competition makes markets more efficient in this case.

A: Competition arises when the number of sellers in the market increase, as more firms join an industry…

Q: Under what conditions do economies of scale serve as an entry barrier? Do the same conditions apply…

A: A Firm achieves economies of scale when with an increase in the output its average cost falls. A…

Q: Discuss how the presence of middlemen affects the operation of competitive markets.

A: In a competitive market, neither a single customer nor a single manufacturer can have a significant…

Q: Who said “The customer experience is the next competitive battleground” ?

A: Customer experience refers to the perception of a business by the customers. It is formed when a…

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: Why do all industries, except pure competition, not reach efficiency? What types of efficiency are…

A: Answer (50) Pure competition is a market situation where : products are homogenous there are a very…

Q: A firm will realize the highest level of profit if it is able to engage

A: The monopoly would result in the single seller and many buyers in the market. The monopoly would…

Q: magine that you arrive at an economics experiment with six other people and are told that you will…

A: Number of units Total Revenue = P*Q Marginal Revenue 1 4*1 = 4 0 2 3*2 = 6  2 3 2*3 = 6 0 4…

Q: A. Discuss the advantage and disadvantage of seeking competitive advantage through price.

A: Comparative advantage happens when a country is able to produce a specific good or service at a…

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: 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: Competition serves as the --------- of economic activity

A: Answer: The competition serves as the regulator of economic activity. Explanation: Competition in…

Q: Und er what conditions would a firm be most likely to use non-price competition?

A: Non-price competition as the name suggests means a type of competition where a firm chooses methods…

Q: How equilibrium price is determined under perfect competition?

A: Under perfect competition, both producers and consumers are price takers.

Q: In which form of the market structure is the degree of control over the price of its product by a…

A: To find : Degree of control over the price of the product by firm.

Q: Give an example in the marketplace that describes the principles of the free market (perfect…

A: Prices of goods in competitive market are determined by free market forces of demand and supply.…

Q: Under what conditions would a firm be most likely to use non-price competition?

A: Non-price competition is a competition where firms concentrate on other methods to attract customers…

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: These two cases provide examples of markets that are characterized neither as perfect competition…

A: The market structure that lies between the perfect competition and monopoly is the monopolistic…

Q: Many economists would argue that there is no such thing as perfect competition in the real world.…

A: The perfectly competitive market is the one with completed information and complete freedom to make…

Q: 71. In the last video, what is the price the competitive firm receives for each bushel of apples it…

A: In a perfectly-competitive market, the firms are price takers. This means that regardless of the…

Q: Consider a market where the consum with no fixed cost and a constant marginal cost perfectly…

A: Given P = 100 – 10q MC = 20

Q: a-When the two firms act like one and charge the same price? b- What will be the market price? c-…

A: A ‘Cartel’ is a collection of private businesses or organizations that meet to manipulate the price…

Q: Why is competition an important factor that has to be studied before putting up a business?

A: Competitions refer to a situation when rivalry firms try to maximize profit by gaining market share…

Q: Which of the following is true concerning purely competitive industries?

A: The perfect competition market consists of a large number of sellers who are price takers as the…

Q: Suppose that the figure below represents coffee shop owners in Alsancak. The downward sloping line…

A: Here, the given graph represents the coffee shown owners. At the equilibrium level, there will be 50…

Q: What is Market competition?

A: The market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: Did Netflix create Blue Ocean space?Did it make the competition “irrelevant”? Why?

A: Blue Ocean Strategy:- The term "blue ocean strategy" refers to a market for a particular  in which…

Q: k in 2012, the world’s largest provider of chipsets for devices (e.g. smartphones, tablets) running…

A: When there is a merger between two leading firms or two firms operating at different levels of…

Q: Which of the following economists was an originator of the theory of imperfect competition?…

A: The correct answer with detailed explanation is as follows:-