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Why could the beer market be considered monopolistic competition?
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Is the restaurant industry oligopoly?
The fast-food industry itself is an oligopolistic market, but it operates under the monopolistic competitive market of restaurants in general.
How does Monopolistic Competition differ from Oligopolistic Competition?
"Monopolistic Competition" is, unless I'm missing something, an oxymoron. "Monopoly" implies "no competitors," so who, precisely, is the monopoly supposed to be competing with? In an oligopoly, there are a few competitors, so there actually could be some competition; however, the term is generally used in a trust situation where the "competitors" more or less agree not to actually compete.
Advantages and disadvantages of a market economy?
Advantages: competition sells products at the lowest price and the best qaulity good Disadvantages: No government involved means some products could be harmful to people
What is the likely market response to a price that is set below equilibrium?
The most likely market response would be that competitors in the market would lower their prices to match or undercut the new price so they don't risk losing sales. If the competition is intense enough it could start a discount or price war resulting in prices continuing to fall.
Why are business government and society to be considered as interactive system?
The government and society are more and more important in business. The corporation could not just develop depending on the sociopolitical and market environment.
Is the restaurant industry oligopoly?
The fast-food industry itself is an oligopolistic market, but it operates under the monopolistic competitive market of restaurants in general.
How does Monopolistic Competition differ from Oligopolistic Competition?
"Monopolistic Competition" is, unless I'm missing something, an oxymoron. "Monopoly" implies "no competitors," so who, precisely, is the monopoly supposed to be competing with? In an oligopoly, there are a few competitors, so there actually could be some competition; however, the term is generally used in a trust situation where the "competitors" more or less agree not to actually compete.
What is a monopoy?
Monopolistic Competition (characteristics, social impacts and solution). I have tried to find a typical example but have yet succeeded. Could you search for some Web links that help me find the statistics and general operation of a typical monopoly market as well as the appropriate regulations from government?
What is a monopolistic competitive?
== == Monopolistic competition is the market situation where many sellers provide similar yet not perfectly substitutable products, thereby giving each seller some monopoly power. Thus, in monopolistic competition production does not take place at the lowest possible cost. Examples of monopolistic competition include restaurants, books, clothing. See the link below for more information. Monopolies are unfair, big bullies on the playground of business. Say we both were in the same industry, but I had more money than you did. I wanted to get your customers away from you so that I could make even more money. One way I might do that is to drop my prices so low that you can't afford to lower your prices to equal mine. All of your customers come to me to save money. You go out of business. I raise my prices back to normal--or even higher now because you're not there as my competition anymore. I keep doing this to everyone in our industry until I'm the only choice around, and everyone has to pay whatever I want to charge. Monopolies were a huge problem in the late 19th century in the U.S., and many would argue certain companies around today have too much of a monopoly on an industry.
What did monopolies and trusts reduce during the late 1800s?
Monopolies limited competition in a certain market. Limited competition meant that the company could choose any price they wanted.
Do you consider dance is an exercise?
Most definitely, and dance at the competition level could be considered a sport as well.
How could a new business protect itself against competition?
The business could bring something new to the market, so it won't have any businesses to compete with.
What is the structure in a pure competition?
If you are referring to a "perfect competition"- you could define it as the most extreme type of competition, with many buyers . So, there are many companies selling the exact same product, without a restriction on new companies entering into the industry. If your sales accounted for in the industry are low (using percentage), you have a higher competition. On the contrary, if you have say 98% of sales in the industry you are monopolistic in competition. Examples of competitive industries would be clothing and textiles. Just for thought-There are many companies that sell these items.
How could the monopolies harm the U.S. Economy?
Monopolies would harm the U.S Economy because it would close out the window for competition, and free market.
What what is a monopolistic competition?
== == Monopolistic competition is the market situation where many sellers provide similar yet not perfectly substitutable products, thereby giving each seller some monopoly power. Thus, in monopolistic competition production does not take place at the lowest possible cost. Examples of monopolistic competition include restaurants, books, clothing. See the link below for more information. Monopolies are unfair, big bullies on the playground of business. Say we both were in the same industry, but I had more money than you did. I wanted to get your customers away from you so that I could make even more money. One way I might do that is to drop my prices so low that you can't afford to lower your prices to equal mine. All of your customers come to me to save money. You go out of business. I raise my prices back to normal--or even higher now because you're not there as my competition anymore. I keep doing this to everyone in our industry until I'm the only choice around, and everyone has to pay whatever I want to charge. Monopolies were a huge problem in the late 19th century in the U.S., and many would argue certain companies around today have too much of a monopoly on an industry.
Advantages of a monopolistic market?
AUTHOR: JAMES CHINEMELU NWAZUOKE B. PHARM, UNIV. OF BENIN, NIGERIA MBA, RMIT, MELBOURNE One of the main advantages of Monopoly is in Monopolistic Profits. The surplus profit generated from a Monopoly can be plowed back into the firm to be used in R &D (Research and Development). This poses a major "societial gain" as the extra investment on R&D could lead to innovation for the good of all
What is a monopolistic?
== == Monopolistic competition is the market situation where many sellers provide similar yet not perfectly substitutable products, thereby giving each seller some monopoly power. Thus, in monopolistic competition production does not take place at the lowest possible cost. Examples of monopolistic competition include restaurants, books, clothing. See the link below for more information. Monopolies are unfair, big bullies on the playground of business. Say we both were in the same industry, but I had more money than you did. I wanted to get your customers away from you so that I could make even more money. One way I might do that is to drop my prices so low that you can't afford to lower your prices to equal mine. All of your customers come to me to save money. You go out of business. I raise my prices back to normal--or even higher now because you're not there as my competition anymore. I keep doing this to everyone in our industry until I'm the only choice around, and everyone has to pay whatever I want to charge. Monopolies were a huge problem in the late 19th century in the U.S., and many would argue certain companies around today have too much of a monopoly on an industry.
