Which of the following is not a characteristic of perfect competition? a) Many buyers and sellers b) Homogeneous products c) Barriers to entry d) Perfect information
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- Which of the following is not necessarily a characteristic of perfect competition? low pricesa large number of buyers and sellersa homogeneous productperfect informationHow to identify the differentiation factor from our competitors.Which characteristic is most indicative of perfect competition? A) High barriers to entry B) Homogeneous products C) Single seller D) Price setting by sellers
- Study the evolution of any brand/company of your choice regarding its target market. In addition, also discuss how the brand/company differentiate and position its products/services to get the maximum competitive advantageName the market structure in which the firms sell products that are similar but not identicalWhich of the following is within the control of the perfect competitor? the selling price none of these the level of output the firm chooses the cost of raw materials
- A new TV and film internet-only streaming service has just launched called FabFlix. Executives behind this launch are hoping to brand it as the number one choice for home streaming. Answer the following questions True or False and explain your answer with a single sentence. Compared to perfect competition, this industry would be characterized with: i. Higher prices ii. Higer output iii. Greater price elasticity iv. Higher concentration v. Greater product differentiationPlease answer all 1. Coldwater Bicycle Company operates its factories at capacity and holds a dominant market position in its home country. When it receives a premium priced order from a new customer in another country, it must decide whether to fill that order or continue to supply the full demand in its home market. When it decided not to completely fill the new order, it incurred Group of answer choices a. Sunk costs b. Average costs c. Opportunity costs d. Marginal costs 2. What might happen if a car dealership is awarded a bonus by the manufacturer for selling a certain number of its cars monthly, but the dealership is just short of that quota near the end of the month? Group of answer choices a. Potential buyers will lose buying power at the dealer b. It may sell the remaining cars at huge discounts to hit the quota c. It creates an incentive to sell cars from different manufacturers d. It would ruin the relationship between dealer and manufacturer…In perfect competition, a large number of buyers and sellers exist a small number of sellers exist buyers and sellers deal in a variety of products buyers and sellers have little knowledge of the items for sale
- How does perfect competition effect the pharmaceutical industry?Identify an industry that enjoys perfect (or nearly perfect) competition. How do the competitors interact with each other and suppliers and customers?As an entrepreneur, which graph illustrates the ideal brand loyalty you would like to see for your product, that is, the demand curve you would like to achieve as closely as possible? Product A Product B Price Demand Graph A Graph B Graph C Graph D Quantity Price Demand Quantity Price Product C Demand Quantity Price Product D Demand Quantity
