Question
In: Economics
Give examples of industries that you believe are or are nearly perfectly competitive. If you are...
Give examples of industries that you believe are or are nearly perfectly competitive. If you are a manager in such an industry what are your primary concerns? How would you manage differently than you would under monopolistic competition?
Solutions
Rahul Sunny answered 1 year agoRelated Solutions
What are the important characteristics of perfectly competitive markets? Give me 5 examples of perfectly competitive...
What are the important characteristics of perfectly competitive
markets?
Give me 5 examples of perfectly competitive markets.
Why do you think economist really like to talk about competitive
markets?
What does the concept of low or no barriers to entry mean? Why
is it so important to understand barriers to entry?
Give me 5 examples of price takers in perfectly competitive
markets.
list of two (2) markets or industries that you think are Perfectly Competitive (PC) AND give...
list of two (2) markets or industries that you think are
Perfectly Competitive (PC) AND give a justification for why each
one is PC. Be sure to justify using the market characteristics
.
1. Monopolistically competitive industries differ from perfectly competitive industries in that: a. there are barriers to...
1. Monopolistically competitive industries differ from perfectly
competitive industries in that:
a. there are barriers to entry in the former but not the
latter
b. there are few producers in monopolistically competitive
industries and many in perfect competition
c. there is product differentiation in monopolistically
competitive industries but not in perfect competition
d. monopolistic competition has easy entry
2. In the market for peaches, we observe both market equilibrium
price and quantity increase. What could have caused this
change?
a. an...
Evaluate the following claim: “Monopolistically competitive industries are strictly worse than perfectly competitive industries because long...
Evaluate the following claim: “Monopolistically competitive
industries are strictly worse than perfectly competitive industries
because long run monopolistic competition involves inefficient
allocation of resources and product differentiation is wasteful.”
Your answer should take into account the efficiency and the
consumer welfare implications of both types of industry structures.
Diagrams are not required, (but you may choose to use them if you
think it will help)
List the characteristics of a perfectly competitive market. Give an example. Why do firms in perfectly...
List the characteristics of a perfectly competitive market. Give
an example. Why do firms in perfectly competitive markets have no
control over the price of their products?
3. Compare the price and quantity outcomes delivered by monopolistically competitive and perfectly competitive industries. State...
3. Compare the price and quantity outcomes delivered by
monopolistically competitive and perfectly competitive industries.
State and explain the implications for society about
efficiency.
Chapter 12 and 13 looked at perfectly competitive and monopolistic competitive markets. Give an example of...
Chapter 12 and 13 looked at perfectly competitive and
monopolistic competitive markets. Give an example of a business or
company that fits into each market structure, and explain how they
fit into the market structure referring back to the three criteria
we examined in the beginning of chapter 12. You can NOT use any
companies/businesses from the book.
The 3 criteria are: many buyers and many sellers, all firms must
sell identical products, no barriers to new firms entering the...
Assume the following cost data for XYZ industries, a firm that participates in a perfectly competitive...
Assume the following cost data for XYZ industries, a firm that
participates in a perfectly competitive
market. Use this data to answer the following
questions.
Output
Average Fixed
Cost
Average Variable
Cost
Average Total
Cost
Total Cost
Marginal Cost
0
-
-
-
0
0
1
60
45
105
2
30
42.50
72.50
3
20
40
60
4
15
37.50
52.50
5
12
37.00
49
6
10
37.50
47.50
7
8.57
38.57
47.14
8
7.50
40.63
48.13
9
6.67
43.33
50...
Assume the following cost data for XYZ industries, a firm that participates in a perfectly competitive...
Assume the following cost data for XYZ industries, a firm that
participates in a perfectly competitive
market. Use this data to answer the following
questions.
Output
Average Fixed
Cost
Average Variable
Cost
Average Total
Cost
Total Cost
Marginal Cost
0
-
-
-
1
60
45
105
2
30
42.50
72.50
3
20
40
60
4
15
37.50
52.50
5
12
37.00
49
6
10
37.50
47.50
7
8.57
38.57
47.14
8
7.50
40.63
48.13
9
6.67
43.33
50
10
6.00...
Perfectly competitive industries are: Group of answer choices A. difficult to enter because there are already...
Perfectly competitive industries are:
Group of answer choices
A. difficult to enter because there are already so many
producers in the industry.
B. not particularly appealing or attractive to enter because
there tend to be so many buyers that it is difficult to deal with
them.
C. relatively easy to enter but not so easy to exit from.
D. none of the above
A perfectly competitive firm should increase its level of
production as long as
Group of answer choices...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Rotating bits in C This rotates bits to the left which means the bits that were...
- Implement a method that meets the following requirements: (a) Takes as parameter 1) an int array...
- Write a function that takes a binary search tree as input and produces a linked list...
- XYZ Company is considering purchasing a piece of equipment costing $400,000. It has a useful life...
- Reflection of the short film "How Wolves Change Rivers" and Aldo Leopold's "Thinking Like A Mountain".
- What kind of rebar would be most cost effective for foundation? Would it be to design...
- Why would UnderArmour want to be sure that consumers can clearly see different models ( about...
ADVERTISEMENT