Most smartphones in the United States use Apple's IOS or Google's Android operating system. What market structure applies to the market for smartphone operating systems? Why?
Q: The following are excerpts from the article: Stirring the Pot . $80 Coffee Beans – Yikes! Bangor…
A: e) Increase in supply:- 1) Emerging of small firms:- Since they're not mass-produced, small-scale…
Q: What is true about the price that is charged in the short run by a firm in monopolistic competition?…
A: In monopolistic competition, the firm sells the product at a price when its marginal cost is equal…
Q: A good example of a monopolistically competitive market would be? Group of answer choices 1-The…
A: A monopolistic market is the place where many sellers can enter the market, but they will provide…
Q: For each of the following pairs of firms, explain which firm would be more likely to engage in…
A: Meaning of Advertisement: Advertising refers to any form of impersonal, paid for communication,…
Q: Do you think Netflix is under the market structure - Oligopoly? Why
A: Market structure refers to the different characteristics of the markets Characteristics of markets:…
Q: 2. Some companies are considering using Google's Android operating system for their tablet PCs and…
A: Business ideas are must for the development and growth in the market to compete with other brands.…
Q: What are the typical orientation of the markets and audiences for new online media producers?
A: Market orientation often includes improvements in customer service and product support geared to…
Q: Explain why, in the absence of a patent, a technical innovation invented and pioneered in one tofu…
A: A patent is a regulatory instrument that acts as evidence of the intellectual property right of an…
Q: which situation at the following, _______ is the market dominated by only one seller/company?…
A: Types of market structures Perfect Competiton Monopolistic Competition Oligopoly Monopoly The…
Q: STREAMING SERVICES (NETFLIX, AMAZON, HULU etc) – SUBSTITUTES OR COMPLEMENTS? From the question above…
A: The streaming services such as Netflix, Amazon, and Hulu are substitutes to each other. The two or…
Q: Why have digital goods become so dominant? Think for example the music industry. a) There are clear…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: Explain why have no competitors caught up with Apple? Do you think Apple can sustain its success…
A: 1)Apple was started by Steve jobs.Products of Apple are unique in design and also in technology.Most…
Q: The following are excerpts from the article: Stirring the Pot. $80 Coffee Beans – Yikes! Bangor…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: Suppose, you're going to open a new fast food business. Briefly discuss the factors that would…
A: When deciding to open up a fast-food restaurant, there are multiple factors that affect the pricing…
Q: Draw a graph of Pepsi company that related to the product differentiation.
A: Monopolistic competition: It has the features of both a monopoly and a perfectly competitive market.…
Q: Music and melody , an independent store acquires instruments and other music equipment form…
A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…
Q: Complete the following table by indicating whether each of the scenarios describes the concept of…
A: When the firm sells the two good in a bundle, then the combined price of those goods would be less…
Q: In which of the following markets should we expect advertising to be most prevalent? In the…
A: In monopolistic competitive market, many firms produce similar but differentiated products. These…
Q: Given the current market conditions, list and explain ONE strategy that dairy producers could…
A: Revenue is the amount of money that firm receives when it sells goods and services to consumers.
Q: one time, PLDT had a great deal of monopoly power and earned large profits. The growth in the use of…
A: PLDT, Inc., earlier known as the Philippine Long Distance Telephone Company (Filipino: Kompanya ng…
Q: briefly make a comparison between output maximization criteria and profit maximization criteria with…
A: The profit-maximizing level of output for a monopolist is determined by equating its marginal…
Q: What is the difference between economies of scale and economies of scope of media markets?
A: Economies of the media markets refers to the combination of economics with the media and…
Q: Suppose in a small town called Utopia live 200 children and 300 adults. The only entertainment in…
A: Meaning of Fixed Cost and Total Revenue and Marginal Cost: Fixed costs are the cost which remains…
Q: From the following graph, show the equilibriums under each scenario. Market is in equilibrium at…
A: The markets in an economy are of various types. In some markets there are a large number of buyers…
Q: The graph to the right depicts the demand for caffe lattes at a local coffeehouse along with the…
A: It's a type of rivalry in which multiple companies offer similar but not perfect substitutes for…
Q: Why Business Should Be Listed in Google My Business b. How to Dominate Local Search c. A…
A: A) Business Should Be Listed in Google My Business because, Your Business Profile is a free device…
Q: Go to investor.siriusxm.com and check whether Sirius XM’s recent financial reports indicate that its…
A: given data Go to investor.siriusxm.com and check whether Sirius XM’s recent financial reports…
Q: Economists recognize all of the following market types except ________. Select one: a.…
A: Economists recognize and classify the markets into four categories, they are given below: A market…
Q: Volkswagen sells cars in many countries throughout the world, including Mexico and other Latin…
A: There is a culture difference between the countries. This would influence the position of Volkswagen…
Q: Which situation is the best example of monopolistic competition? A. One company controls every steel…
A: Monopolistic competition is a situation of market where the practice of differentiating products on…
Q: True or false: In a perfectly competetive market, when AVP<P<ATC, a firm will not produce any output…
A: Under perfect competition, there are a large number of firms who sell identical goods. The buyers…
Q: There are only two driveway paving companies in a small town, Asphalt, Inc. and Blacktop Bros. The…
A: Reaction function will be different of each firm because of cost structure of firm are different…
Q: Pfizer own the copyright for “Pfizer COVID Vaccine (PCV)”. The total cost of producing Q units of…
A: TC=100+50Q+0.5Q2 P=300-0.2Q
Q: Which of these markets is most likely to be identified as monopolistic competition? Group of…
A: In case of monopolistic competition many firms offer the goods that are not that similar. (a) Shoes-…
Q: At my old apartment in Tucson, I could only purchase internet from Cox. What is the most appropriate…
A: The market structure shows how firms are categorized on the basis of how they operate in the market…
Q: For a century AT&T was America's "phone company," but it has changed dramatically in the past few…
A: The economies around the world are involved in different types of economic as well as financial…
Q: Using only things found in an average home, please provide one example of something from each kind…
A: In case of Perfect Competition, there are large number of buyers and sellers. The buyers have…
Q: Use the following table for questions 7-10 Carving knives Home users Professional Chefs No-name…
A: Here, the given table shows the price of two products for two different types of chefs that the…
Q: Why does Pinterest see Google as its biggest competitor? Why does Pinterest prioritize the…
A: Since most people use Google to find what they're looking for, Pinterest sees Google as its biggest…
Q: The three graphs below illustrate the market for electricity. The distribution of electricity is a…
A: Monopoly profit is the profit acquired by an organization that is the sole provider of an item or…
Q: Can Halo top icecream become the top three ice cream brands
A: The factors that make the ice cream brand as the top brand are: 1. Marketing 2. Ingredients 3. Price…
Q: 3. From the following graph, show the equilibriums under each scenario. Market is in equilibrium at…
A: Equilibrium in market Equilibrium is a state in the market where the demand of the market and…
Most smartphones in the United States use Apple's IOS or Google's Android operating system. What market structure applies to the market for smartphone operating systems? Why?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Why does Pinterest consider Google to be its largest competitor? Pinterest Pinterest places a premium on mobile platforms when developing new products and services.It is often said that a competitive market is more beneficial for the consumers as compared to the monopoly market. Why ? Explain.Ilia is driving home from work. She needs to buy gas and notices an Exxon-Mobil station on one side of the street and a Shell station on the other side of the street. Although run by different companies, the two stations sell gasoline at the same price. a. The most likely reason that the price is the same is that _gas stations always make a profit, so they can charge any price they want. _drivers need gas and are willing to pay whatever price a gas station charges. _government regulation requires both gas stations to charge the same price. _consumers view gasoline from different gas stations as perfect substitutes. b. If one station increases its price, _it will be fined by the government. _it will sell more gasoline. _it will make a higher profit. _it will lose customers to the cheaper station across the street.
- Which of the following companies are most likely to face a nearly horizontal demand curve? Group of answer choices Companies (like Netflix) offering programs on television or computers Companies offering search engines on the Internet clothing retail stores offering their goods on the Internet The wholesale oil industry.Some years ago, two intercity bus companies, Greyhound Lines, Inc. and Trailways Transportation System, wanted to merge. One possible definition of the market in this case was “the market for intercity bus service.” Another possible definition was “the market for intercity transportation, including personal cars, car rentals, passenger trains, and commuter air flights.” Which definition do you think the bus companies preferred, and why?Suppose that you are a manager for a firm like EBC Brakes, which manufactures brakes for automobiles and motorcycles. Your company has two plants, one in the United States and the other in the United Kingdom. The following tables include estimated demand and marginal revenue for your brakes, along with the marginal costs at the two factories. what quantity and price maximize your firms profit? What is the profit – maximizing number of brakes produced in the U.S. plant? In the U.K. plant? Quantity Demanded (brakes per hour) Price (dollars per brake) Quantity Produced in the U.K. plant (brakes per hour) Quantity Produced in the U.S. (brakes per hour) Total Quantity Produced Marginal Cost (dollars per brake) Marginal Revenue (dollars per brake) 104 196 47 42 89 66 92 105 195 48 44 92 68 90 106 194 49 46 95 70 88 107 193 50 48 98 72 86 108 192 51 50 101 74 84 109 191 52 52 104…
- From the following graph, show the equilibriums under each scenario. Market is in equilibrium at A under competitive market. (a) Show the equilibrium under monopoly. Call this point B (b) When the demand increased in the area due to immigration, show the new competitive equilibrium, call this point C. (c) Show the new monopolistic equilibrium with increased demand and call this point D.In 1896, Colgate dental cream was introduced in tubes similar to those we use now. Today, the Colgate-Palmolive Company’s brand of toothpaste is the best-selling toothpaste in the world (ahead of the Crest brand marketed by Procter & Gamble, which was introduced in 1955). While Colgate and Crest enjoy the lion’s share of the toothpaste market, if you view the oral care shelf at your local drugstore or supermarket, you will find over a hundred different varieties of toothpaste. Colgate alone sells over 40 different varieties that are marketed under names ranging from Shrek Bubble Fruit to Colgate Total Advanced Whitening. The high level of product differentiation in the toothpaste market stems from firms introducing new varieties in an attempt to boost their economic profits. In environments where makers of other brands (such as Crest) can easily enter profitable segments of the market, a profitable strategy is to attempt to quickly cover that segment (introducing Shrek Bubble Fruit…In 1896, Colgate dental cream was introduced in tubes similar to those we use now. Today, the Colgate-Palmolive Company’s brand of toothpaste is the best-selling toothpaste in the world (ahead of the Crest brand marketed by Procter & Gamble, which was introduced in 1955). While Colgate and Crest enjoy the lion’s share of the toothpaste market, if you view the oral care shelf at your local drugstore or supermarket, you will find over a hundred different varieties of toothpaste. Colgate alone sells over 40 different varieties that are marketed under names ranging from Shrek Bubble Fruit to Colgate Total Advanced Whitening. The high level of product differentiation in the toothpaste market stems from firms introducing new varieties in an attempt to boost their economic profits. In environments where makers of other brands (such as Crest) can easily enter profitable segments of the market, a profitable strategy is to attempt to quickly cover that segment (introducing Shrek Bubble…
- MelCo’s Xamoff The global pharmaceuticals giant, MelCo, has had great success with Xamoff, and over-thecounter medicine that reduces exam-related anxiety. A patent currently protects Xamoff from competition, although rumors persist that similar products are in development. Two years ago, MelCo sold 25 million units for a price of $10 for a package of ten. Last year it raised the price to $11, and sales fell to 22 million units. Finally, a financial analyst estimates the cost of production at $2 per package. (a) Estimate the elasticity of demand for this product at $10. Is this price too high or too low? (b) Estimate the elasticity of demand for this product at $11. Is this price too high or too low? (c) Based on your answers to (a) and (b), what can we say about MelCo’s profit-maximizing price?Raphael's hair salon is a monopoly in a small town and is currently earning an economic profit. a) Does Raphael's hair salon produce the allocatively efficient quantity? Explain. b) Assume that Raphael signs a new lease with an increase in rent, a fixed cost. Will the price of haircuts provided by Raphael increase, decrease, or stay the same in the short run? Explain. c) Assume that new hair salons enter the market and that the market becomes monopolistically competitive. In long-run equilibrium, will Raphael's hair salon produce the productively efficient quantity? Explain.Blue INK is the only cabel service provider in Gazipur. The diagram below depicts the price, output and costs incurred by Blue INK. Use the graph to answer the following questions: 1. What is the Total revenue generated by Blue INK at the profit maximizing level of output? 2. If the Cable Service Market turns into a Perfectly Competitive Market, what will be the total ammount of the service provided? 3. If the market turns into a Monopoly market again, what will be the total deadweight loss created?