Question

Determine which market the following industries fit in. Choose from purely competitive, monopoly, oligopoly or monopolistic...

Determine which market the following industries fit in. Choose from purely competitive, monopoly, oligopoly or monopolistic competition. Explain your choice.

a. Corn farming

b. Grocery stores

c. Electric companies

d. Automobile manufacturing

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

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
Which of the four basic market(Monopoly, Monopolistic Competition, Perfect Competition, Oligopoly) structures BEST describes the Internet?...
Which of the four basic market(Monopoly, Monopolistic Competition, Perfect Competition, Oligopoly) structures BEST describes the Internet? Explain and identify the ways in which the Internet does not fit your choice of market structures.
Firms do not have market power in which of the following market structures? oligopoly monopoly perfect...
Firms do not have market power in which of the following market structures? oligopoly monopoly perfect competition only perfect competition and monopolistic competition
1. ___________ is a market with substantial barriers to entry. a. Monopolistic competition b. Oligopoly c....
1. ___________ is a market with substantial barriers to entry. a. Monopolistic competition b. Oligopoly c. Perfect competition d. Monopoly 2. ______________ are firms that have market structures which sell homogenous products and differentiated products. a. Oligopoly b. Monopoly c. Monopolistic competition d. Perfect competition 3. Which of the following do neoclassical economists assume in all markets? a. The selling price is determined by the individual seller. b. Firms will maximize profits. c. Supply is the only key factor in...
) Which of the following industries is most likely to be a perfect competitive? A) The...
) Which of the following industries is most likely to be a perfect competitive? A) The automobile industry. B) A grocery shop. C) A local telephone company. D) A restaurant. 8) Which of the following is a form of non-price competition: A) Advertising. B) Quality of service. C) Product quality. D) All of the above. 9) According to the kinked demand curve model, a firm will assume that rival firms will: A) Match price cuts but not price increases. B)...
Monopolistic Competition & Oligopoly Please elaborate on answer. TRUE OR FALSE - A monopolistically competitive market...
Monopolistic Competition & Oligopoly Please elaborate on answer. TRUE OR FALSE - A monopolistically competitive market is efficient in its long-run equilibrium because all firms in the market earn a zero economic profit. TURE OR FALSE - Department stores are monopolistically competitive because stores differ in the amount of customer service they provide. Why does entry into markets decrease firm profits? Describe some of the ways in which firms differentiate their products.
Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which...
Briefly state the basic characteristics of pure competition, pure monopoly, monopolistic competition, and oligopoly. Under which of these market classifications does each of the following most accurately fit? (a) a supermarket in your hometown; (b) the steel industry; (c) a Kansas wheat farm; (d) the commercial bank in which you or your family has an account; (e) the automobile industry. In each case justify your classification. “Even if a firm is losing money, it may be better to stay in...
Identify the following firms in the one of the four industries studied (monopoly, perfect competition, monopolistic...
Identify the following firms in the one of the four industries studied (monopoly, perfect competition, monopolistic competition or oligopoly). Explain why you classify each into the category. wheat farmer Starbuck's Coffee Coors U.S. Post Office a dentist's office Ford Ontario Honda (the dealership)
Analyze a monopoly, oligopoly, monopolistic competitive firm, and perfectly competitive firm that you have recently purchased/consumed...
Analyze a monopoly, oligopoly, monopolistic competitive firm, and perfectly competitive firm that you have recently purchased/consumed a good or service. Please make sure to relate your answers to the market characteristics of each of the market structure. Explain what market structure you would like to sell and buy products in. Please write a 3-4 paragraph essay with in-text apa citations.
Under which market structure is a firm's MR curve horizontal? Select one: A. Monopoly B. Monopolistic...
Under which market structure is a firm's MR curve horizontal? Select one: A. Monopoly B. Monopolistic Competition C. Oligopoly D. Perfect Competition
(a) Which market structure, Perfect Competition, Monopoly, or Monopolistic competition, will result in the greatest degree...
(a) Which market structure, Perfect Competition, Monopoly, or Monopolistic competition, will result in the greatest degree of choice between alternate products for consumers? Please give an explanation. (b) In which market structure are firms most likely to advertise? Please explain.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT