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True-or false-explicit collusion means when firms explicitly compete?
It is false.It means when firms explicitly agree to co-operate rather than compete.
What are the primary sources of the competitive advantages firms use to compete in international market?
The local market share is one of the primary sources of the competitive advantages that firms use to compete in the international market.
What are the primary sources of the competitive advantages firms use to compete in international markets?
The local market share is one of the primary sources of the competitive advantages that firms use to compete in the international market.
Of what considerations should firms attempting to compete on a global basis be aware?
Firms attempting to compete on a global basis should be aware that nations differ greatly in their political, legal, economic, and cultural environments
What government payment helps domestic producers compete with a foreign firms?
Subsidies
Why don't small firms grow bigger?
A lack of resources to expand is usually the answer. Small firms must keep their prices small to compete with the bigger firms and in that price it does not include the money needed for expantion.
What is the strategy of Ford motor company?
The stratergies of Ford is to: Cover costs Make Profit Compete with other firms
What are three reasons for the Europeans creating the airbus consortium?
compete against the US Aerospace firms; economies of scale, geographic reach
Who governs international process servers that are based in Russia?
Russia's Process Service Network is one of the firms that handles international process servers. They started in 1978 and have been active since. There are few other firms that compete with PSN.
Why must profits be zero in long-run competitive equilibrium?
The short answer: entry of new firms and exit of old ones. If profits are positive, new firms will enter the industry, piling in until they compete away all these profits. If long-term profits are negative, firms will exit until the price rises enough so that the firms who stay in the market can break even.
Do oligopolists always compete on the basis of price?
No, oligopolists do not always compete on the basis of price. While price competition is one strategy, firms in an oligopoly often engage in non-price competition by differentiating their products, enhancing customer service, or investing in advertising. This is because price wars can erode profits for all firms involved, leading them to seek other competitive advantages. Ultimately, the nature of competition in an oligopoly depends on the market dynamics and the specific strategies of the firms involved.
What Two features of monopolistic competition?
· Two firms in the industry · Strong control over price. · Uses Non price competition to compete · Very strong Barriers to entry Note. a pure dupoly very rarly occurs in real life the more common is two dominate firms who hold majority of the market share.
