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what is the differences between Perfect Competition and Monopoly Market?
The difference between a monopoly market and a perfectly competitive market is that in a perfectly competitive market there are many sellers and buyers, the traded goods are homogeneous goods or the same goods and sellers are not free to set prices. whereas, a monopoly market is a market that has only one seller, so buyers have no other choice and sellers have a large influence on price changes.
What does competitve mean?
A competitive market is defined as a marketplace where there are a lot of producers of similar products. The more choice there is for products the more likely that price competition will exist and keep prices in check
What happens to price when there is monopoly?
When there is a monopoly, the general direction of prices is upward. Because of no competition, buyers have no other choice from where to purchase the products. The monopoly company is then free to raise prices at will.
What happens to price when there is a monopoly?
When there is a monopoly, the general direction of prices is upward. Because of no competition, buyers have no other choice from where to purchase the products. The monopoly company is then free to raise prices at will.
Economic choice and competitive behavior are the result of?
scarcity
What games involve choice?
A game that involves choice is Monopoly, because you choose if you want to buy a property or not when you land on it.
What is meant by monopoly?
if you buy out all your competition you have a monopoly. then you can charge whatever you want, because people don't have aby choice where to but. kinda like Microsoft or wal mart
What does intended effect mean?
Intended effect refers to the specific outcome or result that someone aims to achieve through their actions or decisions. It represents the desired impact or purpose behind a particular choice or strategy.
How does Stihl's choice of distribution channels and advertisements contribute to its differentition strategy?
fa
How do you solve this game show program in Linux by C plus plus language?
this the question:Write a program that will simulate the following situation 10,000 times so we can decide the answer to:Suppose you're on a game show, and you're given the choice of three doors: Behind one door is a car; behind the others, goats. You pick a door, say No. 1, and the host, who knows what's behind the doors, opens another door, say No. 3, which he knows has a goat. He then says to you, "Do you want to pick door No. 2?" Is it to your advantage to switch your choice?The pseudocode for this assignment would be:Run a loop 10,000 times that:Randomly picks a door that is the "prize door"Randomly picks a door that is the "first choice"Removes one of the doors that is both not the "prize door" nor the "first choice"Randomly picks one of the remaining doors as your "second choice"Compares the "prize door" to the "first choice" and "second choice" and saves itAfter the loop is done, output a message that tells how many times the "prize door" was the "first choice" and how many times the "prize door" was the "second choice" so we can know what is the best choice.The output of the homework should look like:Number of times staying was the correct strategy: [NUMBER]Number of times switching was the correct strategy: [NUMBER]Therefore, the best thing to do is to [STRATEGY].
Which is a good strategy for answering multiple choice questions?
Revise the topic in advance and do not guess.
How does competitions help society?
the socity will have choice which will lead in companies producing quality goods at a lower price .monopoly will end
