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A perfectly competitive firm will produce more output and change a lower price than a single price monopoly firm. Do you agree or disagree with this statement?
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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
Is service and quality likely to be better in an industry dominated by a monopoly or in a perfectly competitive industryWhy?
in a perfectly competitive industry
Which market in the economy of Mauritius come closest to being perfectly competitive?
monopoly
What are the four conditions in place in a perfectly competitive market?
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
How is a monopoly and a perfectly competitive firm similar?
A perfect competitive market and pure monopoly market both have to follow the "law of demand".
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
Is service and quality likely to be better in an industry dominated by a monopoly or in a perfectly competitive industryWhy?
in a perfectly competitive industry
Which market in the economy of Mauritius come closest to being perfectly competitive?
monopoly
What are the four conditions in place in a perfectly competitive market?
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
How is a monopoly and a perfectly competitive firm similar?
A perfect competitive market and pure monopoly market both have to follow the "law of demand".
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.
Why monopoly is allocatively inefficient relative to perfectly competitive market?
A monopoly produces at a point where marginal revenue equals marginal cost, they don't charge this price, but charge a higher price that corresponds with the demand they face. Therefore they produce less and charge more than a competitive firm that equates the price to marginal cost.
Why is a Monopoly markets undesirable RELATIVE to perfect competitive market discuss?
In Monopoly, there is no market power as the monopoly firm is the only supplier and holds pricing power. However in a perfect competitive market, prices are set by interaction of supply and demand. This is why monopoly markets are undesirable relative to perfect competitive market.
What is competitive monopoly?
Anti-trust laws!
What are the characteristics of a perfectly competitive market and a monopoly market?
characteristics of perfectly competitive market includes 1.Homogeneous products i.e identical in shape,size,taste,color,e.t.c 2.perfect knowledge to both consumers and producers 3.no transport costs incurred 4.perfect mobility of factors of production 5.common prices for identical goods in the market. 6.
How are a monopolistic firm and a competitive firm similar?
Monopoly means that there are no competitor for your product or servises
