Question

Complete all of the columns. For number of firms answer many, one or few. If products...

  1. Complete all of the columns. For number of firms answer many, one or few. If products are homogenous or differentiated just put down one of those terms. Is price a decision variable and easy entry are answered with a yes or no. Thus, the previous answers are not long discussions. Distinguished by would be more descriptive, and examples would be short. For the example cells, put down an industry or a company, nothing too long.

Market Structure

Number of Firms (Many, One, or Few)

Products Differentiated or Homogeneous

Is Price a Decision Variable

Easy Entry

Distinguished By

Examples

Perfect (pure)Competition

Monopoly

Monopolistic Competition

  

Oligopoly

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
[7] Markets with a large number of sellers producing identical products, and that are easy to...
[7] Markets with a large number of sellers producing identical products, and that are easy to enter and exit are: A) oligopolistic. B) monopolized. C) purely competitive. D) monopolistically competitive. [8] An individual seller has no control over the price of its product in: A) oligopoly. B) pure competition. C) monopolistic competition. D) all of the above. [9] The price a purely competitive seller can get for its product is determined by: A) government regulators. B) the forces of supply...
Which of the following sizes of the market make market coordination easier? a. Many smaller firms...
Which of the following sizes of the market make market coordination easier? a. Many smaller firms b. A few firms of same size c. More than four firms d. One large and many small firms Which of the following characterizes a monopolistically competitive market? a. Many large firms b. One firm c. Many small firms d. A few large firms Monopolistic competition is which of the following types of markets? a. A market dominated by a large firm b. A...
Monopolistic competition characterizes an industry in which many firms offer products or services that are similar,...
Monopolistic competition characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes. Barriers to entry and exit are low, and the decisions of any one firm do not directly affect those of its competitors. So why does a firm in monopolistic competition make zero economic profit rather than an economic profit in the long run?
Monopolistic competition in a market is characterized by: Select one: a. many firms, downward-sloping demand curves,...
Monopolistic competition in a market is characterized by: Select one: a. many firms, downward-sloping demand curves, and zero economic profit in the long run. Monopolistic competition is a: Select one: a. group of suppliers that try to act as if they were a monopoly. b. market that is dominated by a small number of firms. c. market with a large number of firms selling similar but not identical products. d. group of suppliers that try to act as if they...
Which of the following is most likely produced in a monopolistically competitive market? a. Automobiles b....
Which of the following is most likely produced in a monopolistically competitive market? a. Automobiles b. Wheat c. Oil d. Fast food e. Soybeans Oligopolists are more sensitive to the pricing and output policies of their rivals when: a. there are many firms in the industry. b. all firms produce identical products. c. there are barriers to entry. d. there is freedom of entry and exit. e. their products are highly differentiated. It is harder to explain the behavior of...
Question 11 Monopolistic competition features a _____ number of competing firms selling products that are _____....
Question 11 Monopolistic competition features a _____ number of competing firms selling products that are _____. Group of answer choices large; identical small; identical large; differentiated small; differentiated Question 12 In market structures known as _____, a small number of firms dominate. Group of answer choices perfect competitions legal monopolies natural monopolies oligopolies Question 13 Comparing perceived demand curves, a perfect competitor has a _____ a monopolistic competitor. Group of answer choices flatter curve than lower price elasticity of demand...
If MC = MR, then a perfectly competitive firm is: Question 1 options: a) maximizing profit....
If MC = MR, then a perfectly competitive firm is: Question 1 options: a) maximizing profit. b) making a normal rate of profit. c) making economic losses. d) making economic profits. In which market structure is interdependent decision making most likely to occur among the firms? Question 2 options: a) perfect competition b) oligopoly c) monopolistic competition d) monopoly    The perfectly competitive market structure assumes all of these EXCEPT: Question 4 options: a) ease of entry and exit. b)...
23. In the perfectly competitive model, what kind of products are all firms assumed to be...
23. In the perfectly competitive model, what kind of products are all firms assumed to be producing? a. identical products b. differentiated products c. well-advertised products d. unique products 27. Under what circumstance will a firm in a perfectly competitive industry expand output? a. when marginal cost is less than marginal revenue b. when marginal revenue is less than average revenue c. when marginal revenue is less than average total cost d. when marginal cost is less than average total...
Firms enter foreign markets for many reasons. Successful entry depends on matching the firm's strategy and...
Firms enter foreign markets for many reasons. Successful entry depends on matching the firm's strategy and competencies to the right kind of market conditions. Choosing which foreign markets to enter will have long-term implications for the success of any business. Firms have three basic decisions to make: which markets to enter, when to enter those markets, and on what scale they should enter the market. There is no single, correct answer for all firms. Each firm must decide the best...
Ford hires resources for its assembly unit in Mexico. The Ford will recruit resources to the...
Ford hires resources for its assembly unit in Mexico. The Ford will recruit resources to the point where the price of unit output equals the additional revenue that an extra unit of output produces. its total cost equals its total revenue. the marginal cost of an additional unit of resource equals the marginal revenue product of that resource. the price of unit output equals the marginal cost of the last unit of output. the average variable cost of production equals...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT