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How are a monopolistic firm and a competitive firm similar?
Monopoly means that there are no competitor for your product or servises
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profits?
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
Theories underlying in objective of a firm?
Thoeries underlying the Objective of a Firm, mainly talk about the subject of Ethics in Business. Debate is going on since a long time, as to whether every Firm's Objective needs to be ETHICAL? the answer may seem as simple as "YES", but the counter arguements that follow are difficult to answer. Does a Cigratte Manufacturing Company have an ethical objective? Are Liquior Producers into Ethical Business? These Companies thrive at the cost of Consumer's Health. Nevertheless they are highly Profit Making. Coming to Profit Maximization, the question goes as to whether Profit Maximization Goal is justitfied? In a private enterprise, no one can have control over Profit maximization. If the profits are made with the use of Society's resources, such profits need to be sowed back for Societal Development. Abnormal Profits/Supernormal Profits indicate the presence of Monopoly, new entrants and market expansion can keep a check on Monopoly, which is a matter of time. Gyan Prakash Singh er_gyanpsingh@yahoo.com 9336691851 MBA(IT)
Who company is monopoly in Pakistan?
pakistan telecommunication company limited is a monopoly firm in pakistan. a monopoly firm is the one which has no competitors.
How can the finance function of an international business improve the firm’s competitive position in the global marketplace?
Earning profits
Dominos fast food firm is a monopolistic firm or not?
it is not a monopoly firm
Briefly answer what is so bad about monopoly Can anything be good said about monopoly?
Advantages Of Monopoly* Research and Development. Supernormal Profit can be used to fund high cost capital investment spending. Successful research can be used for improved products and lower costs in the long term. E.g. Telecommunications and Pharmaceuticals. * Economies of scale. Increased output will lead to a decrease in average costs of production. These can be passed on to consumers in the form of lower prices. * International Competitiveness. A domestic firm may have Monopoly power in the domestic country but face effective competition in global markets. E.g. British Steel * A firm may become a monopoly through being efficient and dynamic. A monopoly is thus a sign of success not inefficiency.Source: Economic Help
A monopolist will not always produce on the inelastic portion of its demand curve?
(inelastic portion is when MR = negative figure) Yes , because the optimum point is when MR equals to MC and there is no hell a way when MC is negative. Other than this, when the price is at the upper proportion of monopoly demand curve, the price is always higher and the monopoly firm will earn supernormal profit. Any answer which is reasonable will be accept.
Why doesn't demand equal marginal revenue in a monopoly and how come this discrepancy occurs?
In a monopoly, demand does not equal marginal revenue because the monopoly firm has the power to set prices higher than the marginal revenue. This discrepancy occurs because the monopoly has control over the market and can influence prices to maximize profits, unlike in a competitive market where prices are determined by supply and demand forces.
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where?
perfectly competitive industry become a monopoly， what changes
One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where -?
perfectly competitive industry become a monopoly， what changes
When does a firm have market power?
A firm is a monopoly if it is the sole seller of its product and if its product has no close substitutes.
