Question

In: Economics

For questions (16) through (25) you write correct word for the blank space According to Hotellings...

For questions (16) through (25) you write correct word for the blank space

According to Hotellings Paradox, an industry with a small number of sellers with large market shares will often end up offering products that are highly (16)_______

and are aimed at the (17)_______of the market.

When firms in an oligopoly have a tacit agreement to "follow the leader" in raising prices, iit is called (18) __________

Oligopolies often have a demand curve that is (19)__________above the present price because if they (20)______their prices, their rivals will NOT match them.

Their demand curve is (21)_________ below the present price because if they (22)____    their prices the rival firms WILL do the same thing.

23) Under Monopolistic Competition, firms will produce with _______capacity in the long run.

24) Firms in an Oligopoly usually have very ________start up costs for advertising and marketing.

25) The type of industry where firms produce “differentiated” products is an ________________

Solutions

Expert Solution

According to Hotellings Paradox, an industry with a small number of sellers with large market shares will often end up offering products that are highly (16)differentiate

and are aimed at the (17)_______of the market.

When firms in an oligopoly have a tacit agreement to "follow the leader" in raising prices, iit is called (18) cartel

Oligopolies often have a demand curve that is (19) relatively elastic above the present price because if they (20) increase their prices, their rivals will NOT match them.

Their demand curve is (21)inelastic below the present price because if they (22) lower their prices the rival firms WILL do the same thing.

23) Under Monopolistic Competition, firms will produce with _______capacity in the long run.

24) Firms in an Oligopoly usually have very high and aggressive start up costs for advertising and marketing.

25) The type of industry where firms produce “differentiated” products is an monopolistic competition

Sorry fir 17 and 23

If you are satisfied with a answer plz upvote thank you


Related Solutions

For questions (16 ) through (25) you write correct word for the blank space According to...
For questions (16 ) through (25) you write correct word for the blank space According to Hotellings Paradox, an industry with a small number of sellers with large market shares will often end up offering products that are highly (16)_______ and are aimed at the (17)_______of the market. When firms in an oligopoly have a tacit agreement to "follow the leader" in raising prices, iit is called (18) ____ Oligopolies often have a demand curve that is (19)__________above the present...
For questions (10 )   t through (25) you write correct word for the blank space(YES STARTS...
For questions (10 )   t through (25) you write correct word for the blank space(YES STARTS AT 14, ALREADY HAVE 1-13) Long run market demand must be (14)______for a Cartel to survive and do well. Long run market supply must be (15)________for a Cartel to survive and do well. According to Hotellings Paradox, an industry with a small number of sellers with large market shares will often end up offering products that are highly (16)_______ and are aimed at the...
Fill the blank with the correct word from the word blank Because of the adverse selection...
Fill the blank with the correct word from the word blank Because of the adverse selection problem in the financial market, a firm’s newly issued stocks or bonds could be ( ) so that the firm would withdraw from the market. It will leave only the ( ) credit firms in the market. To solve the asymmetric information problem between the lenders and borrowers, ( ) could be used as a good mechanism for ensuring that a borrower is likely...
Fill the blank with the correct word from the word blank Because of the adverse selection...
Fill the blank with the correct word from the word blank Because of the adverse selection problem in the financial market, a firm’s newly issued stocks or bonds could be ( ) so that the firm would withdraw from the market. It will leave only the ( ) credit firms in the market. To solve the asymmetric information problem between the lenders and borrowers, ( ) could be used as a good mechanism for ensuring that a borrower is likely...
PLEASE FILL IN BLANK WITH CORRECT ANSWER. THANK YOU! CHAPTER 16: ANALYSIS OF VARIANCE (ONE WAY-Factor)...
PLEASE FILL IN BLANK WITH CORRECT ANSWER. THANK YOU! CHAPTER 16: ANALYSIS OF VARIANCE (ONE WAY-Factor) Key Terms Analysis of variance (ANOVA) – An overall test of the null hypothesis fro more than two population means. One-way ANOVA – The simplest type of analysis of variance that tests whether differences exist among population means categorized by only one factor or independent variable. Treatment effect – The existence of at least one difference between the population means categorized by the independent...
For the following items, follow the directions, write the correct answer in the blank, or circle...
For the following items, follow the directions, write the correct answer in the blank, or circle the correct answer. Having applied for a job at the Commerce Department’s Bureau of Economic Analysis, you are given the following hypothetical data to study before your interview.  Figures are total value in billions of dollars. Household spending on:             Services                                                =          $3,008             Nondurable goods                                =          $1,776             Durable goods                                      =            $706 Business spending on plant and equipment        =             $815 Wear and tear on factory equipment                 =            $200 Inventory changes                                             =                $9 New homes constructed                                    =           $397 Existing homes which were...
Part 1: Write the letter of the correct answer in the blank at the left. (2...
Part 1: Write the letter of the correct answer in the blank at the left. (2 points each, 16 total) 1. ___________ Molly: “We should clean out the hall closet. It's been a while since we cleaned it out.” Fibber McGee: “We just cleaned that closet last year. Why do you think we always need to clean it?” a. Straw man b. Appeal to ignorance c. Appeal to authority d. Begging the question 2. ________Jones believes that captive chimpanzees used...
Answer the following questions (choose the correct answer or fill in the blank): If 3500 kcals...
Answer the following questions (choose the correct answer or fill in the blank): If 3500 kcals eaten in excess equals one pound of weight gain, what would be the approximate weight gain of a person who consumes an excess of 500 kcals every day for 2 weeks? 1 lb. 2 lbs. 3 lbs. 4 lbs. The __________________________ is a brain center that controls activities such as maintenance of water balance, regulation of body temperature, and control of appetite. What percentage...
Circle the correct answer or write the correct answer in the space provided. 1. Quoting our...
Circle the correct answer or write the correct answer in the space provided. 1. Quoting our text book, “A fraction with a nonzero leftmost digit is said to be normalized.” For example, 10.0112 ´ 2-3 is normalized by shifting the binary point 2 places to the left and increasing the exponent by 2 yielding 0.100112 ´ 2-1. The mantissa, m, of every correctly normalized non-zero floating-point number, ± m ´ 2exponent, satisfies the relationship m Î A: [ 0.0,1.0 ]...
Choose the best answer. Please write the correct letters in the blank provided. ____________1. Raw materials...
Choose the best answer. Please write the correct letters in the blank provided. ____________1. Raw materials are assigned to a job when: (a) the job is sold. (b) the materials are purchased. (c) the materials are received from the vendor. (d) the materials are issued by the materials storeroom ____________2. The source of information for assigning costs to job cost sheets are: (a) invoices, time tickets, and the predetermined overhead rate. (b) materials requisition slips, time tickets, and the actual...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT