Show what the side-by side graph looks like in perfect competition (Show the graph where the firm is in making a profit.)

Q: Briefly state the basic characteristics of pure competition. Strictly speaking, pure competition has…

A: Different forms of market structures differ in their level of competitiveness, ranging from highly…

Q: Which of the following does NOT fall into the degrees of competition continuum?   A) Perfect…

A: Market structures modelled as a continuum are the four general market structures: perfect…

Q: Draw Porter's competitive strategy matrix

A: According to Michael Porter the strategic positioning is necessary to gain the gain the competitive…

Q: I. Write the letter corresponding to your answer on the space provided for. 1. What is the…

A: 1 - B perfect competition has free entry and exit of firms 2 - C Vegetables are homogenous as it is…

Q: Explain using a two-dimensional graph how imperfect competition brings a loss of economic…

A: The imperfect competition causes loss of efficiency. The efficiency is achieved where the P = MC.

Q: discuss why a firm in perfect competition will not charge a price above or below the market price.

A: The perfect competition is a form of market where there are a large number of buyer and sellers,…

Q: Draw and explain the case of loss minimization under perfect competition and monopolistic…

A: Loss Minimization Under Perfect Competition: A perfectly competitive firm minimizes its loss when it…

Q: In the model of monopolistic competition, we say that there is product differentiation. What does…

A: PLEASE FIND THE ANSWER BELOW.

Q: Explain what competition? What is the types of competitions? Discuss Perfect competition? Oligopoly…

A: Competition:-   Competition maybe spices in human life but in economics, It has been more nearly the…

Q: Use the table below to answer questions about Christina's Christmas Wreaths. Christina operates in a…

A: "In perfectly competitive market, price equates the marginal revenue and average revenue."

Q: One useful way of analyzing the nature of competition in an industry has been suggested by Porter's…

A: Porter's Five Force Model is was developed by Michael Porter in the year 1979. Basically it is a…

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: Under perfect competition and monopolistic competition, profits are zero in long-run…

A: In perfect competition and monopolistic competition firms end up earning only normal profits in the…

Q: Look for the definition of the following terms: 1. perfect competition 2. product homogeneity 3.…

A: All the definitions are given below

Q: Use the table below to answer questions about Christina's Christmas Wreaths. Christina operates in a…

A: We have given price = 64 for product the product. Due to given price, MR becomes equals to the…

Q: Under Perfect Competition, firms only make normal profit in the long run. Elaborate

A: In the long term, all production components are interchangeable. Free entrance and departure, as…

Q: Suppose the average cost of producing a kilowatt hour of electricity is lower for one firm than for…

A: The natural monopoly is created due to the natural barriers in the market. It indicates the…

Q: What is market structure? Explain main characteristics of;  I. Perfectly competitive market…

A: Market structure defines competition and nature on the market for products and enterprises. The…

Q: based on four market structure in economics, why some firms able to continue to make an economic…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: compare and contrast the monopoly and perfect competition in market structure in long run?

A: Monopoly is a market structure which has a single seller and many buyers. Perfect competition is a…

Q: What term refers to companies shaping their actions based on what their competitors do? allocative…

A: In a market, sometimes the decisions of the firms are not completely based on their own cost and…

Q: Explain why a perfectly competitive firm won’t advertise.

A: In perfect competition, there are a large number of buyers and sellers where the latter do not have…

Q: Why is perfect competition often described as ideal market structure?

A: (Since you have posted multiple questions, we will answer the first one for you. If you want a…

Q: Is collusion by a group of sellers or buyers possible in a market of pure and perfect competition?…

A: Collusion is a secret, non-competitive, and in some cases illicit arrangement between rivals which…

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: Does economic theory contend that for every product, the market for the product should be perfectly…

A: When the equilibrium state of the perfect competition is being taken into consideration it is not in…

Q: Why do business open shop close to their competitors

A: A rival is someone, a corporation, a team, or an organisation that competes with you or your…

Q: 1.  Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic…

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

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: How does a firm in perfect competition decide what price to charge? What quantity to produce?…

A: A perfect competition(PC) market is one with many consumers and sellers producing identical…

Q: Using a graph, discuss the extent to which monopolistic competition can lead to misallocation of…

A: lead to misallocation of resources compared to perfect competition. Perfect competition refers to…

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: Compare and contrast monopolistic competition and perfect competition market structures in the…

A: There are homogeneous product in the perfect competition while in the monopolistically competitive…

Q: What does it mean to say that: “A firm operating under perfect competition conditions is a price…

A: ANS By the term price taker, we mean that the firm takes the price as given, and based on that price…

Q: please make your understanding to explain the difference between long run equilibrium in perfect…

A: Meaning of Perfect Competition: The term perfect competition refers to the market under which…

Q: Show what the side-by side graph looks like in perfect competition (Show the graph where the firm is…

A: Perfect competition is a market where there are a large number of buyers and sellers and each firm…

Q: How to identify the differentiation factor from our competitors.

A: The market refers to a place where various buyers, and sellers meet. The buyers purchase goods, and…

Q: Netflix profits slide       Netflix has hit a bump in the road on its quest to reach 60 million to…

A: Netflix is a streaming company which started as a DVD rental company. After a while, it moved its…

Q: Draw a model of a representative individual firm in the market for wheat, i.e. an Australian wheat…

A: Perfect competition market  A perfect competition market is a form of market where there is a large…

Q: How can cigarettes in perfect competition be productive and allocative efficiency?

A: Productive efficiency means that the economy is producing without any wastage. The choice of…

Q: Which type of competition is characterized by a large number of firms, heterogeneous products and…

A: Monopolistic competition is a market defined by a large number of firms, heterogeneous products and…

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 major difference between perfect competition and monopolistic competition is

A: To find : Major difference between perfect competition and monopolistic competition

Q: In which market structure would you place each of the following products: monopoly, monopolistic…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: ow what the side-by side graph looks like in perfect competition (Show the graph ere the firm is in…

A: In a perfectly competitive market there are large number of firms producing similar and identical…

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:-