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- multiple choice Assume that the tuna fishing industry is perfectly competitive. Which of the following best characterizes the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna? 1- a constant-cost industry 2- a fixed-cost industry 3- a decreasing-cost industry 4- an increasing-cost industryANSWER IF TRUE OR FALSE: no need for long explanation. 1. The welfare of the consumers is maximized under a purely competitive market. 2. It is easy to exit or stop production if the market condition is no longer profitable if there is very low investment in fixed assets. 3. Patents and copyrights serve as barriers in entering an industry and in competing against the already existing producers.Please answer all 1. Coldwater Bicycle Company operates its factories at capacity and holds a dominant market position in its home country. When it receives a premium priced order from a new customer in another country, it must decide whether to fill that order or continue to supply the full demand in its home market. When it decided not to completely fill the new order, it incurred Group of answer choices a. Sunk costs b. Average costs c. Opportunity costs d. Marginal costs 2. What might happen if a car dealership is awarded a bonus by the manufacturer for selling a certain number of its cars monthly, but the dealership is just short of that quota near the end of the month? Group of answer choices a. Potential buyers will lose buying power at the dealer b. It may sell the remaining cars at huge discounts to hit the quota c. It creates an incentive to sell cars from different manufacturers d. It would ruin the relationship between dealer and manufacturer…
- What form of competition best characterizes this market? What characteristics did you identify that led you to that conclusion?coffee shop marketOur topic is Market Structure. Please help to explain if this business is likely to be more or less profitable than a large agricultural operation? ThanksQuestion 5 Profit-maximizing firms enter a competitive market when existing firms in that market have Group of answer choices total revenues that are just above fixed costs. market price between average variable cost and average total cost average total costs that exceed average revenue. average total costs less than market price.
- describe the types of market structure that exist in the tourism industry of Cyprus. Only Typing AnswerThe wireless data industry, in which firms compete vigorously against one another for customers, is not considered a perfectly competitive industry. You can choose multiple answers Which of the following industry characteristics make the wireless data industry a non-perfectly competitive industry? A.For wireless firms, long-run economic profits are possible. B.Substantial barriers to entry prevent new firms from entering the wireless market. C.The market is dominated by a few very large wireless firms. D.Wireless firms provide a homogeneous product.Question 1)a) Which of the following is a common criticism of advertising?O. It makes market entry easy.O. It createsa demonstration effect.O. It stirs competition among firms.O. It promotes freedom of expression. b) Why do perfectly competitive firms avoid using advertising?O. They can sell all they want at the market price without ads.O. They usually don't have enough revenue to advertise.O. They are afraid the ads will lower the price of their products.O. They usually have a limited distribution network, making advertising unnecessary.