-------- occurs when price and quantity fixing agreements amoung producers are uncleared a)tacit collusion b) monopolistic competition c) oligopoly d)strategic collusion
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-------- occurs when price and quantity fixing agreements amoung producers are uncleared
a)tacit collusion
b)
c) oligopoly
d)strategic collusion
Step by step
Solved in 4 steps
- (a) Discuss the long-run equilibrium in a monopolistically competitive market using diagrams.A perfectly competitive firm is onsidered to be more generous in terms of price and quantity of output in comparison to firm belonged to monopoly and monopolistic markets. C. If firms incurring loss in this market begin to exit the market, what will happen to the market equilibrium? Demonstrate your answer using a simplified graph. d. The firm wishes to supply output more than the quantity determined under the equilibrium condition, is it worth to pursue?a. b. C. d. Price panel a panel b panel c panel di Price (a) (c) MA MC MR ATC Quantity MC ATC D Quantity Price Price (b) MR (d) MC Quantity MC مما ATC Refer to Figure 3. Assume a monopolistic competitive environment: From the 4 graphs depicted, which one of them represents a short-run equilibrium that encourages the entry of other firms? ATC Quantity D
- If new firms enter a monopolistically competitive industry, an individual firm's demand curve will ---- (increase/decrease). A/There are four main forms of market, namely pure competitive market, monopolistic competition market, and marketoligopoly, and the monopoly market. These four forms of market can be viewed from the seller's point of view or in terms ofbuyer. Explain the difference between Pure Competition and Pure Monopoly Market!Q8. The similarity between Monopoly and Monopolistic competition is vow a) Free entry and exit of firms marginal revenue b) Quality of product is same c) Price charged exceeds d) Demand curves are perfectly elastic. Q9. Which of the following conditions is acceptable as the last stage of production for a P.C. firm? a) Size of loss equals to total fixed cost b) Size of loss equals to total variable cost c) Size of loss equals to total cost d) Firm earns zero economic profit Q10 The monopolistic competitive firm produces product a) That is slightly differentiated b) That is significantly different from each other c) That is considerably different from each other d) That is of lower quality than the P.C. firm
- b) A collusive equilibrium at the monopoly priceA firm in a monopolistically competitive market has a monopoly power because: O There are very few other sellers in the market. There are many firms selling similar products. The firm is not concerned with entry of new firms. The firm's product is differentiated. ◄ Previous MAY 4 Next Not saved Submit tvAssume a monopolistically competitive firm encounters a decrease in average variable cost at all output levels.We would expect: a. The price to rise and output to rise b. The price to fall and output to fall c. The price to rise and output to fall d. The price to fall and output to rise
- Which of the following is least likely to be an example of monopolistic competition in the U.S. clothing and apparel sector O restaurant business airplanes industry dairy sectorWhich of the following statements is true about the difference between monopoly and monopolistic competition? a.Monopolies always earn positive profits b.Monopolistically competitive firms have no barriers to entry or exitEconomics Fixed costs do not play a role in determining output levels. So, why will lower fixed costs increase the number of firms in a monopolistic competitive industry?
