Why is the graph of the cartel drawn exactly the same as the monopoly graph?

Q: What makes a monopolistic competitive firm different from that of a monopoly? From an economic…

A: The monopoly market and monopolistic competitive market, both are the market structure, with some…

Q: What are the differences between the two market structures of monopolistic competition and monopoly?…

A: Four different types of market structures in an economy are perfect competition, monopoly,…

Q: Why do the United States and many other countries have antitrust laws? What’s so harmful about…

A: The reasons why do the United States and many other countries have antitrust laws are below: Many…

Q: Why does monopoly arise? How does monopoly make profit and loss? Graphically explain

A: Monopoly can arise by the following :  Monopoly can arise, given that there is only one business…

Q: The following table shows the daily demand schedule for round-trip train commutes between Dallas and…

A: Total Revenue  = Price*Quantity Marginal revenue = ∆ in total revenue / ∆ in price Profit maximizing…

Q: Assuming the firms are Bertrand duopolists, what is likely to happen? Explain verbally?

A: In a Bertrand game, there exist only two firms producing an identical product and they choose the…

Q: Define the following terms: a. Cartel- b.Collusion- c. Prisoner’s dilemma- Do cartel or…

A: Oligopoly is the form of market organization in which there are few sellers of a homogeneous or…

Q: If monopolies are typically considered inefficient, why would the government grant firms such as…

A: Monopoly refers to firms having a huge market share in the economy. A monopoly firm is one that is…

Q: The reason monopolies are inefficient for society is because monopolies: options: 1.Create no…

A: Monopoly is a single firm in the market producing unique good.

Q: What is predatory pricing? How might it reduce competition, and why might it be difficult to tell…

A: Predatory pricing (also undercutting) is a pricing strategy where a good or service is set at a…

Q: if a product moves from being monopolistic to a monopoly will the demand for the industry decrease?…

A: Monopolistic competition is a market structure with a large number of firms and buyers. The firms…

Q: How can the entrance of new competitors be blocked in the monopoly

A: Answer: Monopoly: Monopoly refers to the type of market system in which there is a single seller and…

Q: Explain and show using a graph how the long run outcome in monopolistic competition differs from…

A: A monopoly is a market-structure that consists of only one seller and many buyers. Monopolistic…

Q: What’s the difference between oligopoly and monopoly

A: Difference between oligopoly and monopoly are as follows: 1.Oligopoly has few sellers whereas…

Q: Why are monopolies for the most part illegal?

A: Monopoly Market: Monopoly market refers to the market situation where a single firm enjoys the…

Q: What is a cartel? In what way is an analysis of cartel similar to an analysis of a monopoly

A: There are different types of market structure in an economy. These are- perfect competition,…

Q: Let's say that you are looking at a table with output and cost data for a monopoly and you observe…

A: The monopoly firm maximize its profit when the marginal cost is equal to the marginal revenue.…

Q: Which of these relations is always TRUE for monopolies? MR > D P > MR P > AC TR < T

A: The profit maximizing level of output produced by the monopoly at point where MC is equal to MR. For…

Q: Why does the government regulate natural monopolies

A: Monopolies are the market structure where there is only a single seller of a unique good. There are…

Q: Select one or two examples of an industry characterized by monopoly and discuss how each example…

A: A monopoly is a market structure characterized by the existence of a single firm as the producing…

Q: Briefly discuss how a monopolist can seek out the profit-maximizing quantity of output

A: Monopolist demand curve is downward sloping indicating that more output will be sold at lower price.…

Q: graph below shows the demand for Cosmic shampoo.     Suppose there are no fixed costs and…

A: A monopoly is a sole producer of a good thus have maximum market power and will act as a price…

Q: Explain why it is not possible for a monopoly firm to maximize its profits by charging a price in…

A: &gt;A monopoly is a profit maximizer. It is the only seller in the market selling the good with no…

Q: Discuss the economic factors that lead to the development of monopolies. Examples of monopolies…

A: Monopoly is defined as a market structure in which there is only a single seller of the good or…

Q: How is monopoly different from the perfect competition? How is monopoly different from the perfect…

A: Monopoly is a type of imperfect market competition where there is only one seller and many buyers.…

Q: What is monopolistic competition? Give a real-life example which follows the pattern very closely.

A: Monopolistic competition is one of the 4 main market structures which are:- Perfectly competitive…

Q: Correctly illustrate the following monopolies: a. A monopoly is producing at the profit-maximizing…

A: Profit maximization of Monopoly occurs at the intersection of marginal revenue and marginal cost…

Q: List several reasons that monopolies exist,and explain how each causes barriers to entry

A: A monopoly is a form of market – there exists only a single producer. They earn supernormal profits…

Q: How is monopolistic competition like monopoly? How is it like perfect competition? Discuss briefly.

A: Monopolistic competition refers to the situation where there are many firms exists in the market.…

Q: Why are monopolies considered an abuse of power?

A: Pricing power is frequently restricted by rivals and the prospect of customers switching to…

Q: With the aid of an appropriate diagram, discuss why should a monopoly be regulated by the…

A: Meaning of Monopoly: A monopoly market is the one where there is an absence of any competition,…

Q: Q.3 Briefly answer the following questions with the help of examples where necessary: a. Can a…

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

Q: How is monopoly different from perfect competition?

A: A market is a place where the buyers and sellers interacts with each other party and determines the…

Q: The graph shows the demand curve for cable television. Assume that monopoly conditions apply. What…

A: In the graph, it can be seen that the price charged at 12 units of houses is $6 and the price…

Q: Explain how Oligopolists are interdependent.  Give any example of your choice from different…

A: In the oligopoly market, there are few firms which dominate the market. It is a highly concentrated…

Q: If Sam and Jack each produce the same quantity of appointments as would be produced in perfect…

A: Perfect competition is the name given to an ideal market system. Under a perfect competition model,…

Q: How is monopolistic competition like monopoly, perfect competition and oligopoly? Why does price…

A: Since you have posted multiple question, we will solve first question for you if you want other…

Q: Explain how monopolies employ average cost pricing

A: Monopolies have one seller and a large number of buyers. There are no close substitutes. Under…

Q: What are the three reasons why monopolies arise?  Give one example of a firm that is a monopoly and…

A: A monopoly refers to a market structure where there is only one seller in the market and has no…

Q: Bertrand competition with differentiated goods. Firms 1,2 with demand functions Q1 = 10 – 3P1 + 2P2…

A:

Q: A study shows that the 4 largest firms in the auto industry in the US produce 70% or more of the…

A: Bertrand model of oligopoly explains how firms in an oligopoly where each firm in oligopoly choose…

Q: Is Facebook a natural monopoly or monopoly? Why or why not?

A: A natural monopoly is a part of monopoly. It occurs because of unique circumstances , in which…