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An expiration of a major industry patent would A increase barriers to entry B decrease barriers to entry C leave barriers to entry unaffected D increase supplier power E decrease supplier power?
E. decrease supplier power
When the process of entry or exit ends in a perfectly competitive market?
The idea of a perfectly competitive market is that no one business or entity is large enough to hold power over a market or product. Zero entry and exit barriers make this possible, because it means that the market is ever changing as businesses fail and new companies emerge.
Which of the following describes a feature shared by both monopolistic competition and perfect competition a.absolute power b.standardized products c.no barriers to entry or exit in the long run?
c) no barriers to entry or exit in the long run
What are the 5 industry environment?
Customers - eg. relative bargaining power of customers Suppliers - eg. relative bargaining power of suppliers Competitors Substitutes and degree of substitutes Ease of entry - eg. entry barriers such as government licenses required
What was the external environments has affected merck company?
There were many external environments that affected Merck company. They were rivalry, entry and exit barriers, supplier power, buyer power and threat of substitutes.
Compare monopoly and monopolistic competition?
A monopoly is a market which has only one firm, the firm has market power, and there are barriers to entry. The long run profits for a monopolist may be greater than zero. Monopolistic competition is more closely related to perfect competition than monopoly. In monopolistic competition, there are many firms in the market. However, each firm has product differentiation. An example of monopolistic competition would be the jeans industry. There are many different types/quality of jeans e.g. True Religion, Levi's and Lee's. Products are somewhat differentiated, but, as in perfect competition, the long run profit = 0. Oligopoly is a market in which there are only a few firms, each firm has market power, and there is much product differentiation between the firms. The long-run profit of oligopoly can be greater than zero, because there are barriers to entry in the market.
What are social barriers to listening?
Social barriers to listening include distractions such as background noise, personal biases or prejudices that affect how we interpret information, and communication styles that may not align with others. Cultural differences, social status, and power dynamics can also create barriers to effective listening.
Factors to consider when determining industry attractiveness?
The barriers of entry, the value the industry can provide for customers, capital requirement, exit barriers. All this can be determined using Porter's Five Force Model, which looks at competitor (Rivalry), threat of new entrants, supplier power, buyer power, and threat of substitute products.
Which is the cause of the media industry's oligopolistic market structure?
The media industry's oligopolistic market structure is caused by high barriers to entry, such as the high cost of infrastructure and content creation. Additionally, economies of scale play a role as larger companies can spread their costs over a larger audience. Finally, consolidation and mergers contribute to the concentration of power among a few key players in the industry.
What are some factors that can lead to a monopoly?
When one business or company dominates its area and squeezes out all its competition, the result is the consumer does not have a free choice, and inevitably the price of it's products or services...
Is power lock and key less entry same?
Not necessarily. Keyless entry will have power door locks, but not all power door locks are coupled to a keyless entry system.
What are 5 major industries in the Midwest?
Customers - eg. relative bargaining power of customers Suppliers - eg. relative bargaining power of suppliers Competitors Substitutes and degree of substitutes Ease of entry - eg. entry barriers such as government licenses required
