b. List and explain the characteristics of product
differentiation. Provide 3 examples of companies actually using...
b. List and explain the characteristics of product
differentiation. Provide 3 examples of companies actually using
this technique and the impact of that differentiation had on the
firms’ performance.
10-bb. List and explain the characteristics of product
differentiation. Provide 3 examples of companies actually using
this technique and the impact of that differentiation had on the
firms’ performance.
Relatively Large Number of Sellers-
Not Price Makers-
No collusion-
Easy Entry and Exit-
Economies of scale-
Non-Price competition
Independent action-
Differentiated Products-
Please help me in explaining the characteristics above.
a. Discuss two ways that product differentiation affects demand
for the product.
b. Explain the difference between collusive and competitive
oligopolistic market models and give an example.
What is product differentiation? Give
examples. How does product differentiation influence buyer
and supplier behaviors? How does product differentiation
influence your behavior?
a. Give three characteristics of a perfectly competitive market.
[3 marks]
b. List and explain three types of barriers to entry that may be
used in a monopoly. [3 marks]
c. For a monopolist, why is marginal revenue less than price for
every level of output except the first? [4 marks]
d. Give the conditions which should exist for price
discrimination? [3 marks]
e. Draw a diagram to show the long run equilibrium condition of
the perfectly competitive firm [4...
What are the characteristics of a Monopolistic Market?
a.) Provide three (3) examples of the Monopolistic Markets.
b.) How is this market similar to the Perfectly Competitive
Market?
c.) How do they differ?
(a) Explain THREE (3) main characteristics of a perfectly
competitive firm. [6 marks]
(b) Using an appropriate diagram, demonstrate how a perfectly
competitive firm achieves equilibrium in the short-run. [7
marks]
(c) Why is the demand curve of a perfectly competitive firm
horizontal? Explain your answer. [7 marks]
Q2
2a) List and explain the characteristics of a monopoly market
with relevant examples.
2b) With relevant examples, explain the THREE(3) types of price
discrimination and the conditions for price discrimination.
(Atleast 2-3 pages long)