Give an example of a good or commodity that is intangible and explain why it is so. -Who are the unemployed in terms of economics? Give an example and explain why. -Give an example of a business that falls under the category of a perfect oligopoly and explain why.
Q: Short answer. Write a brief response to each of the following questions about oligopolies. 1. How…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: weigh the pros and cons of monopoly and market oligopoly. In the Philippine situation, should…
A: A monopoly is a market consisting of only one producer/seller that acts as a price maker, while an…
Q: What are some of the barriers to entry that can keep the number of sellers small in an Oligopoly?…
A: Oligopoly is defined as that market structure which has few seller selling the differentiated or…
Q: 2) What is oligopoly? And Monopoly? State two examples for which market structure in case of…
A: The market is a location where the transaction of services and commodities takes place. It is…
Q: Using a real life example, explain that is meant by a ‘natural monopoly’. What are at least 3…
A: A natural monopoly is a monopoly in which the largest supplier in an industry, generally the first…
Q: A. What is meant by the change in the quantity demanded and the change in demand support your answer…
A: Hi Student, Thanks or posting the question. As per the guideline, we are providing answer for the…
Q: (1) When is it desirable for society to allow a monopoly to operate? When the monopolist is…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Bookface, the largest online social media network in the world, is being sued for abusing market…
A: Answer:- (a) As I would like to think, the book face the economy is right, and the cases given by…
Q: Discuss reasons and conditions under which a monopoly or an oligopoly, despite its market power,…
A: ANSWER As monopoly and oligopoly both have significant role in taking care of resources.
Q: What could McDonald’s do to create barriers that would prevent others from entering the markets and…
A: Barriers to entry refer to the imposition of costs or other similar impediments to prevent new…
Q: - Know how to calculate the Herfindahl Index. What HHI number means a pure monopolist? number means…
A: in HHI we consider the percentage share of each firm in an industry) HHI = s12 + s22 + s32+…..+ sn2…
Q: Explain how organizations can collude to raise prices of products like sugar using the concept of…
A: Collusion is an agreement between firms to set the prices of their goods to gain an advantage.…
Q: Question:What market structure has a TR that is equal to the 45 degree line? -pure -monopoly…
A: Perfect competition is the market structure where there are many sellers in the market with each…
Q: Why might a government try to prevent monopolies or oligopolies from forming in a market? And how…
A: A monopoly refers to a market in which there is only a single seller of a commodity. The seller has…
Q: 12. What is the best example of competition in capitalism? When McDonalds and Burger King compete by…
A: Competition in capitalism takes place when two entities compete with each other to get some profit,…
Q: 18. When OPEC raised the price of oil dramatically in the mid-1970s, experts said it was unlikely…
A: OPEC which stands for Organization of the Petroleum Exporting Countries is a cluster of…
Q: MC = 8 = Average Cost ( Select ) If there is a monopoly firm in this industry, what is the profit…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first 3 subparts for you as…
Q: . compare the quantity and price of an oligopoly to those of a monopoly 2. compare the quantity and…
A: Definitions: Monopoly Oligopoly There is a single producer in the market. Huge barriers to…
Q: Define economic efficiency in terms of production costs and products prices. Why are purely…
A: * ANSWER :-
Q: Explain what is Oligopoly and duopoly? Are firms in Oligopoly large firms or small firms? What is…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: What are the three major legal forms of business organization? Which form is the most prevalent in…
A: Business organization refers to the groups of people coming together to form a legal entity under…
Q: Make a case that neither pure competition nor pure monopoly is conducive to a great deal of R&D…
A: A purely competitive market comprises a large number of small firms that produce and supply goods or…
Q: 42. In the context of oligopoly, the kinked demand curve hypothesis is designed to explain A. O…
A: Under the oligopoly form of market, there exist a few sellers and a large number of buyers. The…
Q: Questions 1. What steps did Microsoft have to take to develop products that are customized to Indian…
A: Traditionally, Microsoft began developing the one-size-fits-all strategy at home and applied it…
Q: Match the terms on the left with the definitions in the column on the right (use alphabet to match…
A: Meaning of Market: The term market refers to the situation under which there occur various…
Q: Explain why firms would or would not worry about future competition in each market. Explain how this…
A: Monopoly producerss don't think much about their potential income because they enforce stringent…
Q: The pie-chart given above shows the annual global market share of Pepsi and Coke for the last five…
A: The markets in an economy help the buyers and sellers to meet and interact with each other. In the…
Q: What steps did Microsoft have to take to develop products that are customized to Indian consumers?…
A: Following are the steps taken by Microsoft in developing products customized according to the Indian…
Q: Q1. Firms in oligopoly must constantly think in terms of how other firms in the industry will react…
A: Market structure alludes to how various businesses are ordered and separated in view of their…
Q: 22: What are some of the Factors Leading to Globalization?
A: Globalization permits the movement of goods and services and people across the world.
Q: Modern business practices do not usually result in violent outbreaks. Why might governments in the…
A: First part To protect consumers' interests, the government may desire to regulate monopolies.…
Q: explain how perfect discrimination compare against perfect competition in the industry with regards…
A: The perfect competition refers to the market where many sellers are there in the market. Perfect…
Q: In which market structure might uniqueness be the most important? Why? In which market structure…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: 2. Which is a better market structure, Monopoly or Oligopoly? Why?
A: Meaning of Market: The term market refers to the situation under which the producers or the…
Q: 16 When does a kinked demand curve occur? A When one firm in a duopoly cuts prices and forces the…
A: In the oligopoly market, there are few firms which dominate the market. It is a highly concentrated…
Q: 1. Suppose your professor announces that each student in your large lecture class who receives the…
A: Hello, thank you for the question. Since there are multiple questions posted here, only the first…
Q: just answer the subpart d a. Explain what you know about collusion and cartels, including:…
A: d. Collusion: Collusion is an agreement between rivals which in general is considered as…
Q: if two firms (firm A and firm B) are competing selling T-shirts, both at $12 per shirt, both have a…
A: Provided that both the firms are competing with each other directly, the new marginal price cue to…
-Give an example of a good or commodity that is intangible and explain why it is so.
-Who are the
-Give an example of a business that falls under the category of a perfect oligopoly and explain why.
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- 1. A monopsonist maximizes profit when Select one: a.marginal revenue product of labor equals marginal cost. b.its marginal revenue product of labor equals its marginal expenditure on labor. c.marginal revenue equals marginal cost. d.marginal revenue product is set equal to zero. 2. During the winter months, the price of natural gas is high. During the summer months, the price of natural gas is low. This could be an example of Select one: a.third-degree price discrimination. b.second-degree price discrimination. c.bundling. d.first-degree price discrimination 3. What of the following is completely true in long run, monopolistically competitive equilibrium? Select one: a.the slope of the demand and average cost curves are the same, P = MC, and MC = MR. b.the slope of the demand and average cost curves are the same, P > MC, and MC = MR. c.the slope of the demand and average cost curves are negative, P > MC, and MC > MR d.the slope of the demand and…Big Miners at Odds Over Whether Worst Has Passed - Wall Street Journalby: Rhiannon Hoyle (see images below) 1) How do potential changes in the Chinese economy affect the demand for minerals as well as the decisions made by mining companies? 2) Why is it difficult for mining companies to get the timing right with regard to the development of new mines? 3) “Mining typically follows an about four-year boom-to-bust cycle….” Is there any reason why they cannot use their historical data make their investment decisions and demand forecasts? 4) Mining companies are facing a potential “high price for mineral commodities” state of the economy and a potential “low price” state. Why then are they visiting factories and scrapyards? 5) How do environmental policies affect the demand for coal? Why are mining companies concerned about their ability to predict changes in environmental policies?looking for help with this homework question... I'm not sure if wages, owners salary, job offer salary gets deducted or added for following question? Calculate the firm's economic profit. Revenue = $425,000 Raw materials = $60,000 Utilities = $20,000 Wages = $100,000 Owner's Salary = $95,000 Potential Rent from Building = $50,000 Job offer salary = $90,000
- Please help me with this. Thanks. Factors of Production Innovation and physical capital are two of the four factors of production. Analyze specific ways that 1 of the following laws increased the productivity of innovation and physical capital: 1862 Pacific Railway Act 1956 Federal Aid Highway Act 1946 Federal Airport Act Now that you have considered how a law can increase the productivity of innovation and physical capital, address the following: - Describe 3 other examples of economic concentration - What are the risks and advantages to economic concentration? - How has economic concentration influenced your industry? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Y-KILI. Suppose there is perfect competition. The real rental rate of capital is rx-1 and the real wage is 4. The firm wants to minimise its costs subject to producing at least one unit of the good, Le. It was to minimise its costs subject to What is the value of the ratio Y2L Enter a number using fractions or decimals in your answer. Decimals should be to at least 2 decimal places. 4-C What is the value of L? Enter a number using fractions or decimals in your answer. Decimals should be to at least 2 decimal places. What is the minimum cost for the firm? Enter a number using fractions or decimals in your answer. Decimals should be to at least 2 decimal places.1. Explain what is technical efficiency? 2. Explain what is full employment under economic efficiency?
- Economics Which of the following statements best describes labor demand? a. The long-run labor demand is more elastic to wage rate than the short-run labor demand. b. The labor demand of a firm is more elastic to wage rate than the labor demand of the industry to which the firm belongs. c. In the short-run, firms have little scope in adjusting capital stock. Therefore, labor demand decisions of firms rest on how the marginal revenue from labor input is compared to the marginal cost of labor input. d. All of the above.4. Profit maximization Consider Live Happley Fields, a small player in the strawberry business whose production has no individual effect on wages and prices. Live Happley's production schedule for strawberries is given in the following table: Labor Output (Number of workers) (Pounds of strawberries) 1 20 38 54 4 68 80 Suppose that the market wage for strawberry pickers is $200 per worker per day, and the price of strawberries is $13 per pound. On the following graph, use the blue points (circle symbol) to plot Live Happley's labor demand curve when the output price is $13 per pound. Note: Remember to plot each point between the two integers. For example, when the number of workers increases from 0 to 1, the value of the marginal product of for the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the points. 300 270 Demand P = $13 240 210 180 Demand P = $15 150 120 90 60 30 0. 2 LABOR (Number…Course: Microeconomic - Production Function and Perfect Competence Markets Establish the veracity of the following comments and explain your answer.1. The long-run industry supply is always infinitely elastic, since the free entry and exit of firms forces it to be located at the long-run minimum average cost. Explain. Graph is needed. 2. Assuming that the prices of the factors of production remain constant and there are no entry barriers, in the face of a positive demand shock, the price in the industry in the long run will not be affected. Explain Graph is needed 3. In the short run, the supply curve of a perfectly competitive industry ALWAYS has a positive slope. Explain Graph is needed 4. In perfect competition, a firm's supply is given by the increasing part of the marginal cost function. Explain Graph is needed
- Gains from Trade - End of Chapter Problem Between 2016 and 2017, Nintendo produced 2.3 million NES Classic Edition mini consoles that sold out almost immediately as they arrived at stores. The retail price of the mini console was $59.99. However, if you were to check eBay at the time, you would see that people were buying the units for $250 each from scalpers. a. The price of $250 tells scalpers O they should continue to buy the console at the store and resell it on eBay for a higher price. they should keep the consoles they have already purchased and hang onto to them, as they will be considered antiques someday. they should no longer buy and resell the consoles because the price on eBay is too high to make a profit. b. Upon observing that the only way to obtain the gaming console is to buy it on eBay for $250, a consumer might do which of the following? Select all that apply. Consider buying another type of gaming console that is cheaper. Approach a family member about sharing the…Why did labor have little say in old firm operations? Too much capital O Too much demand O Too much supply O Too much regulationQuestion: Do you think the computer software industry (or other similar industries in gaming, cell phones, etc.) is likely to have a large number of firms or only a few firms? Explain your answer and provide an example of a software (or similar) firm and the product(s) it produces.