Why might a service business be more selective than a goods-producingbusiness regarding the customers it pursues or accepts?

Q: Suppose the local electrical company, a legal monopoly based on economies of scale, was split into…

A: In a Monopoly market, there are a large number of buyers, and there is only a single seller in the…

Q: How can supply chain management (SCM) help a company establish a competitive advantage?

A: Answer - Supply chain management: - It is system which manages the firm's many functions like…

Q: Why is the level of output at which marginal revenue equals marginal cost the profit-maximizing…

A: Every producer produces services and goods and sells them in the market. The main objective of every…

Q: Which barrier to entry into the industry or market is the most difficult to deal with by prospective…

A: Answer: Barriers to entry of new firms into the industry may prevent the newcomers into the market,…

Q: Describe each of the following terms. 1. Consumer surplus  2. Disutility  3. Explicit cost 4.…

A: 1. Consumer surplus is the area below the demand curve and above the price. It measures the total…

Q: Is Hilton’s product mix deep as well as wide? Explain your answer

A: The Hilton Performance Advantage is a comprehensive system. System of creative ideas and smart…

Q: To what degree does the American economic system allow the restaurant industry to provide what we…

A: The American economic system favor's and supports the restaurant industry.  The Nation can't…

Q: Match each of the terms to their description: Shutdown Point Price maker A. something that keeps new…

A: A monopolist is a price maker because it sells a unique product so it has the control over the…

Q: Why does a Starbucks coffeehouse face a downward–sloping demand curve while a dairy farmer has a…

A: Starbucks is working in a monopolistic market as it is a developed brand. Starbucks is preferred by…

Q: Which of the following is NOT one of the three primary determinants of market structure?   A.…

A: Market structure can be defined as the market characteristics. There are four major types of market…

Q: In which market structure there is a single seller?

A: There are various structure of market it includes perfect competition, Monopoly, Monopolistic…

Q: Raphael's hair salon is a profit-maximizing single price monopoly located in a small town, and is…

A: A monopolist always produces at the point where Marginal Revenue is equal to Marginal cost (MR = MC)…

Q: In most markets, independents are the most common form of retailer. Why is this the case?

A: There are various types of market where Retailer , wholesale sale their products either homogeneous…

Q: Kia Motors manufactures cars that are sold through dealers. The (daily) demand for Kia cars in a…

A: Demand: Demand for a commodity can be defined as the desire and willingness of a consumer to acquire…

Q: Why are changes of prices of commodities is very responsive to the needs of the consumer?

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Is it feasible to prohibit monopolies in all markets?

A: Monopoly is a market structure where there is only one seller and many buyers. The seller has…

Q: Is it bad for consumers if a large corporation drives down prices to eliminate competition? Explain

A: A situation when two or more rival companies lower the prices of a similar product with the aim to…

Q: Is “product crimpling” a horizontal or a vertical product differentiation? Why?

A: Product differentiation refers to the marketing strategy in which a product is differentiated from…

Q: How would you characterize the nature of competition among small food companies? Are there…

A: Answer- Need to find- How would you characterize the nature of competition among small food…

Q: Some years ago, two intercity bus companies, Greyhound Lines, Inc. and Trailways Transportation…

A: The antitrust law is developed to protect the consumer from unfair practices of businesses. The laws…

Q: What is the Difference between predatory pricing, tie-in sales, and bundling? At what Price should…

A: Predatory pricing Bundle pricing Tie- in- sales when firms sell their product at a very…

Q: Which of the following gives the customers better products that are not offered by other…

A: Marketing: It means promotion and selling of goods and services which include market research and…

Q: Product Differentiation is not easy as new firms cannot easily enter the market because it has many…

A: Product differentiation: When a product has a different feature when compared to another product…

Q: Is it feasible to prohibit monopolies in all markets? Does advertising help or hurt consumers?

A: No, it is not feasible to prohibit monopolies in all markets. In economics, the term monopoly refers…

Q: What are the main characteristics of a competitivemarket?

A: A perfectly competitive market is the one, where there are a large number of firms selling…

Q: What’s the total profit in the market when the firm price discriminates between the two groups? How…

A: A monopolist produces the good that it can produce solely. When two groups are there, there are two…

Q: How does monopoly compare with pure competition in terms of price, output, and efficiency? Explain.

A: Perfect competition refers to the market structure where there are large number of buyers and…

Q: EXPLAIN GLOBLIZATION IN DETAIL?

A: As economies and societies developed, the study of economics got more complicated. Hence, as a…

Q: Who would be willing to pay more for the right to use the McDonald’s name—an out-let located in the…

A: In a market, the brand name of a company or organization is used by the franchise firms to expand…

Q: Describe how marketersclassify products

A: A product is a good or a commodity that is put out for sale in exchange of money. The price of a…

Q: If the FTC is correct about Facebook, Facebook will be able to earn profits in the long-run. What…

A: Barriers to entry conveys the restriction levied by a market on the arrival or exit of business…

Q: In “Hot Dog Hail Mary,” they discuss how the original model served low-quality food at high prices.…

A: Demand is an economic concept that helps in understanding the quantity demanded by the people in…

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: How would you classify the market structure for Food Network’sofferings (both content and tangible…

A: Market structure describes how various industries are classified and differentiated based on the…