Productive and allocative efficiency are achieved in a [perfect, monopolistic or oligopoly] market structure? Graph

Q: Agriculture, or farming, is a decent example of which type of economic market? a. oligopoly b.…

A: Agriculture or farming is mostly considered as perfectly competitive market because homogeneous…

Q: monopolist

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

Q: Describe the characteristics of a firm in a monopolistically competitive industry and that of an…

A: Market structure- It is the nature and degree of rivalry in the market for goods and services.

Q: Give one example for each market structure : 1. Perfect competition 2. Monopolistic competition 3.…

A: Different types of products are offered in different markets because products have different…

Q: What are the common characteristic for perfect competition, monopoly and monopolistic competition

A: Market competition refers to the competition that exists between the firms.

Q: Describe the types of inefficiencies that derive from monopolistic competition.

A: Market structure in an economy can be defined as the organizational characteristics of a market.…

Q: 47. In which of the following industry structures is the entry of new firms the most difficult? a.…

A: When the price rises, new firms seek to enter the industry because high price implies higher…

Q: Which two market structures are characterized by free entry and exit in the long run? perfect…

A: In an economy, four types of markets are present and they all have specfiic characteristics to sell…

Q: Suppose button industry is characterized by monopolistic competition with external economy. China is…

A: For any country to be competitive in low – cost manufacturing, there are few other factors which…

Q: Inefficiency exists in all market structure except? a.  (Monopolistic competitive market) b.…

A: An efficient market is a market structure where the price of the market reflects all the relevant…

Q: Choose one product and identify its market structure among a perfectly competitive, monopoly,…

A: The market structures are divided into 4 types depending on the number of firms, entry barriers and…

Q: In which market structure do firms exist in very large numbers, each firm produ an identical…

A: The market structure is classified into many types, such as, perfect competition, oligopoly,…

Q: In which type of markets is product differentiation used by producers as the dominant, most common…

A: Since you have asked two multiple choice questions at once. Due to our authority guidelines we can…

Q: Which of the following market types has only a few competing firms? a. perfect competition b.…

A: Perfect competition, oligopoly, monopoly, monopolistic competition are types of market structures.…

Q: Assume firms in the short run are earning above-normal profits. Explain what will happen to these…

A: Normal profits(π) imply zero profit(π). This is the case where the total revenue(TR) equal to total…

Q: What is a reaction curve in an oligopolistic market?

A: Market can be classified into four major structures. THe following are the structures : Perfect…

Q: Compare and contrast the features of an oligopoly market with that of the monopolistic competition…

A: Oligopoly: This market consists of only a few firms and these firms dominate the market. Moreover,…

Q: Define the following terms briefly: (a) Zero-Profit point, (b) Differentiated Oligopoly Market, (c)…

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

Q: Which particular market structure has no barriers to entry and to exit?  A. pure competition B.…

A: The market structure can be divided into four based on the degree of competition and the type of…

Q: With the aid of diagram, explain whether a monopolistically competitive firm is able to achieve…

A: Monopolistic competition does not produce the output that corresponds to the efficient level.

Q: What are the relative advantages of buying a good or service produced by a firm in an oligopoly…

A: ANSWER   The relative advantages of buying a good or service produced by a firm in an oligopoly…

Q: Would delivery pizza in a large city be best described as a perfect competition, monopolistic…

A: Perfect competition: perfect competition is a form of market in which there are many buyers and many…

Q: hich one of the following market structure is the less competitive? a. Perfect competition b.…

A: The least competitive market structure is Monopoly.

Q: Which of the following market structures has the fewest number of large firms? a. Monopolistic…

A: Firms in the market compete with each other in order to maximise their profits. Market structure is…

Q: 25. Choose the extremely competitive market structure from the following. a. Monopolistic…

A: Market Structure are of various forms like perfect competition, monopolistic competition, oligopoly…

Q: . Which market condition (Monopoly, Perfect Competition, Duopoly, or monopolistic competition) is…

A: The market structure in which there are a high number of customers and sellers is known as perfect…

Q: Consider the markets for tap water, bottled water, cola, and beer. Assume there is only one provider…

A: Monopoly:   A monopoly is a market structure, which is characterized by a single seller selling a…

Q: Mr Ho’s Chinese restaurant is in a small country town, 50km away from the next nearest Chinese…

A: A market structure differentiates between different industries or firms on the basis of various…

Q: How does each type of competition differ based on the number of BUYERS in: 1) pure and perfect…

A: A market is the collection of buyers and sellers. It is the system in which they exchange goods and…

Q: In which type of competition (pure, monopolistic, oligopoly or monopoly) would each of the following…

A: Market structure denotes characteristics of the markets and helps us understand how the markets…

Q: With the aid of a diagram explain how a monopolist determines how much output to produce and what…

A: (1.) With the aid of a diagram explain how a monopolist determines how much output to produce and…

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: Discuss the Duopoly Model with Product Differentiation, explain the effects of Product…

A: Duopoly  Duopoly refers to the type of market in which there are only two producer firms in the…

Q: Indicate the advantages and disadvantages of each market structure (perfect competition, monopoly,…

A: Introduction We have different forms of markets like perfect competition, monopoly, monopolistic…

Q: Define the following Perfect Competition Monopoly Monopolistic Competition Oilgopoly

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

Q: Suppose a duopoly with homogenous product. Explain what are the effects on firms' profits of having…

A: The terms: Duopoly: A market structure controlled by two businesses is known as a duopoly. A market…

Q: Choose a market for a good that you use often in real life and explain whether the market is perfect…

A: Perfect competition is a hypothetical market structure that can be compared to real-world market…

Q: Match each of the four market structures covered in this course with the description of the market…

A: Market structure is the structure of a market, which consists of the number of firms, the size of…

Q: The profit-maximizing/loss-minimizing level of output is determined where MR=MC for: all four…

A: Profit maximization is the point where the firm's marginal revenue and Marginal cost both are equal…

Q: What are the “monopolistic” and the “competitive” elements of monopolistic competition?…

A: Monopolistic competition is a market structure which combines elements of monopoly and competitive…