Consider some of the products that are widely advertised on television. By what kind of firm is each produced—a perfectly competitive firm, an oligopolistic firm, or another type of firm? How many major products can you think of that are not advertised on TV?

Q:   identify and describe a real world example of an oligopoly. What characteristics of this…

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

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: Aside from advertising, how can monopolistically competitive firms increase demand for their…

A: Monopolistic competition is an imperfect market structure in which there are large number of buyers…

Q: New, small firms often have trouble competing in oligopolistic industries because they cannot…

A: it is TRUE

Q: Which of the following of goods is most likely to be sold in an oligopolistic market? smart phones…

A: Smart phones,soybeans and winter gloves have more number of competitors and firms.

Q: QUESTION 6 Which of the following is not a characteristic of an oligopolistic market? there are many…

A: An oligopoly is a form of imperfect competition that has a small number of sellers and a large…

Q: If monopolistically competitive firms have some control over their price, why don’t they set price…

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

Q: a monopolistically competitive market an oligopoly market with   a large number of firms competing…

A: McDonald is one of the multiple food chains in India. There are numerous other companies that…

Q: Suppose you manage a local grocery store, and you learn that a very popular national grocery chain…

A: In monopolistic competition, each firm assumes that the price charged by the competitor will remain…

Q: Washing powders are often heavily advertised because a. Consumers need to know the exact…

A: Basics:-  Goods like washing powder are goods of daily use (necessity) those have usually inelastic…

Q: You decide upon Australia as a location for an Asian fast-food theme restaurant because you have…

A: Disclaimer: Since you have asked multiple questions, we will solve the first question for you. if…

Q: Many economists argue that “More research, development, and innovation can be seen in the…

A: The above-given statement is correct that more R&D and innovation can be seen in the…

Q: You are hired as a consultant to a monopolistically competitive firm. The firm reports the following…

A: A monopolistically competitive firm will maximize profit if price (P) is higher than marginal cost…

Q: Q4. Monopolistic market structure is characterized by large number of buyers and seller selling…

A: Monopolistic competition defines the market form in which there are large numbers of firms in the…

Q: Explain how concentration ratios and barriers to entry into the market relate to Monopolistic…

A: Market:- A market is a location where people may come together to exchange products and services.…

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: Which of the following industries are examples of oligopolistic industries in the U.S.? Choose all…

A: An oligopoly is a market structure in which a small number of enterprises have a significant amount…

Q: Describe the characteristics of monopolistic competition and oligopolies and how cartels emerge in…

A: Monopolistic competition is a form of imperfect competition in which several producers compete…

Q: ally com

A: Market Structure depicts how the firms are being categorised and differentiated being based upon…

Q: If the firms in a monopolistically competitive market are earning economic profits or losses in the…

A: In a monopolistic market, the eqm. occurs at a point where the MR(marginal revenue) and MC(marginal…

Q: Explain the impact of change in demand and supply on the price level under oligopolistic market…

A: Oligopolistic firms can stifle industry production, charge a higher price, and split profits among…

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: What is Oligopolistic Market Structure? Examples from Developed Countries

A: In economics, market structure refers to how different industries are classed and distinguished…

Q: What are the similarities and differences between a monopolistic competitive market structure and an…

A: marketplace is a platform wherein transaction takes area among the manufacturers of a commodity and…

Q: Explain what happens to the supply and price in an oligopolistic market with Cournot competition…

A: In Oligopoly market products may be homogeneous or heterogeneous and advertisement cost is incurred…

Q: How many real industries can you name that are oligopolies? How many operate under monopolistic…

A: Oligopoly is a market structure in which only a few firms dominates the market. Oligopolistic…

Q: Compare and contrast how prices are determined under pure competition, monopoly, oligopoly and…

A: There are mainly four types of market structures. In Pure and Perfect Competition, there are large…

Q: How is an oligopoly market different from monopolistically competitive market in respect of price…

A: In oligopoly, there are lesser number of firms and they own large shares of the market, whereas in…

Q: 48. One characteristic not typical of oligopolistic industry is

A: Oligopoly is a form of the market which has these characteristics: 1. Small number of big firms 2.…

Q: What effect does the entry of new firms have on the economic profits of existing​ firms? When new…

A: When new firms enter a monopolistically competitive​ market, the economic profits of existing firms…

Q: Why would it be difficult for new firms to enter the German Milk market (oligopolistic market).…

A: Germany produces the majority of Europe's milk. In contrast to neighboring northern EU nations,…

Q: Briefly explain price rigidity in oligopolistic markets using the kinked demand curve.

A: Oligopoly is the form of market structure where few large firms exist and sell differential products…

Q: Why is the equilibrium in an oligopolistic market less efficient than acompetitive market?

A: Oligopoly refers to the market structure where there are few firms dominating the market condition…

Q: Analyze a Monopolistic Competition or Oligopoly Market Structure

A: Monopolistic competition is a type of market structure that lies between two extreme forms of market…

Q: Describe the basic elements of a game, strategy, payoffs, dominant strategy, and Nash equilibrium.…

A: Strategy refers to the options or preference that the person is chooses at any stage of game where…

Q: What type of demand curve do we see with oligopolistic markets?  Draw an example

A: We are going to learn concepts such as kinked demand curve and oligopolistic market to solve this…

Q: Should competitors work together in an oligopolistic market?what is it called if they do,and is it…

A: One of the feature of oligopoly is interdependence between firms.

Q: Can excess profit be earned in an oligopoly?

A: Oligopoly is a market structure in which few sellers operate in the market.

Q: An ineffective means of discouraging the entry of new firms by existing firms in an oligopolistic…

A: The entry can be stopped by : a. Spending heavily on advertising. More advertising for an existing…

Q: Why is there so much advertising in monopolistic competition and oligopoly? How does such…

A: Imperfect market structures are those markets where individual firms have the power to influence the…

Q: Explain if excess profit will exist in the long run for an oligopolistic market.

A: Oligopoly is such a market condition where there are a few firms which are selling homogeneous or…

Q: Q61 Tha use of cannabis was legalized in Canada in 2017. Assume that the  Canadian cannabis sector…

A: Answer: Given, The concentration ratio of four firms = 40 percent (where each firm has an equal…