Question

Product differentiation is a key element of the monopolist competition model. Provide some real-world examples of...

Product differentiation is a key element of the monopolist competition model. Provide some real-world examples of how firms differentiate their products. Do you think that consumer always benefit from product differentiation?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Price discrimination refers to charging the different price for the different group is generally based on capturing the market.or consumer welfare viewpoint.

Example, Doctors generally charges higher fees for the rich patient and lower for the poor patient is based on the emotional ground. Likewise, Railway departments charge the different price for the compartments.

The price discrimination benefits to the consumers charging the different price for similar service and goods.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Please provide me with some real-world (numerical if possible) examples of outsourcing.
Please provide me with some real-world (numerical if possible) examples of outsourcing.
What are some specific ways that real-world markets tend to differ from the assumptions or characteristics...
What are some specific ways that real-world markets tend to differ from the assumptions or characteristics of the perfectly competitive model? Evaluate the conclusion that perfect competition leads to a long-run equilibrium in which economic profit is equal to zero. Why do economists believe that firms earning "zero economic profit" are able to stay in business?
As markets for some products and services experience greater global competition, what is the likely consequence...
As markets for some products and services experience greater global competition, what is the likely consequence for the incidence of price discrimination? Do you think global competition fosters or impedes price discrimination? Can you give any examples from your own work experience?
4. Consider a Hotelling model of product differentiation in which there is a continuum of consumers...
4. Consider a Hotelling model of product differentiation in which there is a continuum of consumers uniformly distributed on the interval [0; 1] : Firms will also be located at two endpoints of the interval. Consumers have unit demands. A consumer who buys at price pA from firm A located a distance x away obtains utility v-pA-tx: If this consumer buys at price pB from firm B, his utility is v-pB- t(1-x): Assume all goods can be produced at zero...
How are you being influenced and persuaded? Please consider the following and provide real examples... In...
How are you being influenced and persuaded? Please consider the following and provide real examples... In what ways are you being influenced? Who or what influences you to take action? Are you always aware of when you are being influenced? What are some ethical considerations when it comes to influence and persuasion?
Consider some of the examples you have brought up in earlier discussion forums about applying models...
Consider some of the examples you have brought up in earlier discussion forums about applying models to real-world problems. Choose one of the models covered earlier in the course and describe the key differences in solving a problem with that model versus with a simulation model. In your opinion, which is more effective? How does the problem at hand determine which type of model to use?
Describe the properties of a normal distribution, and provide some examples of how they might manifest...
Describe the properties of a normal distribution, and provide some examples of how they might manifest themselves in real business situations. Why is the Normal distribution important in Statistics? How do we check whether the data collected in a research project comes from a Normal distribution?
Bertrand model: Price competition in simultaneous move homogeneous product duopolyó explain in words. Consider the brick...
Bertrand model: Price competition in simultaneous move homogeneous product duopolyó explain in words. Consider the brick producers again. This time, each firm simultaneously and independently picks the price. Since the product is homogeneous, the consumer buys from the producer o§ering at a cheaper price. The market demand curve faced by the two firms is P = 1 - 0.00001 ( x + y), and costs are C1 (x) = 0.04x and C2 (y) = 0.1y where firm 1 produces x...
Garbage Can Model: This policy process consists of three separate streams: Problems, Solutions and Political opportunity,...
Garbage Can Model: This policy process consists of three separate streams: Problems, Solutions and Political opportunity, when the three streams meet, change to existing policy can occur, timing is key with this policy. How do you think decision making in the real world of health care reflects, or differs from this model?
1. Consider a real-world super market shopping experience. a. Provide benefits of automating an in-store super...
1. Consider a real-world super market shopping experience. a. Provide benefits of automating an in-store super market shopping experience, considering both the business and customer perspectives. You need to list one benefit from business perspective and one benefit from customer perspective b. List two possible techniques for requirements elicitation 2. Elicit and list requirements for the in-store supermarket self-service checkout system. You need to specify two functional and two non-functional requirements . 3. Specify a technique that you think could...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT