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one firm which sells a good
price set by that firm
hard for other firms to enter market
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∙ 12y ago
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What companies in the Philippines belong to monopolistic competitive market?
There are many companies into he Philippines that belong to a monopolistic competitive market. These companies include Ayala, SM Prime Holdings and the San Miguel Corporation.
What is monopolistic competition and perfect competition?
Three conditions characterize a monopolistic & Perfectly competitive market. First, the market has many firms, none of which is large. Second, there is free entry and exit into the market; there are no barriers to entry or exit. Third, each firm in the market produces a differentiated product. This last condition is what distinguishes monopolistic competition from perfect competition. In perfect competition in addition to the prior two characteristics the firms produces similar products.
List and describe the characteristics of a perfectly competitive market?
There are multiple characteristics which correspond to an ideally competitive market. These are a rule of law and contracts enforcement, competition through multiple merchants, market integrity against anti-competitive behaviors, and consumer confidence.
Why demand always downward slop in competitive market?
The reason why demand curve is always downward slopin a competitive market is because there are many sellers and buyers in the market.so the price of a commodity in such market determines the demand and supply of that product.unlike a monopolistic market were there is just öne seller and many buyers
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.
What companies in the Philippines belong to monopolistic competitive market?
There are many companies into he Philippines that belong to a monopolistic competitive market. These companies include Ayala, SM Prime Holdings and the San Miguel Corporation.
What is monopolistic competition and perfect competition?
Three conditions characterize a monopolistic & Perfectly competitive market. First, the market has many firms, none of which is large. Second, there is free entry and exit into the market; there are no barriers to entry or exit. Third, each firm in the market produces a differentiated product. This last condition is what distinguishes monopolistic competition from perfect competition. In perfect competition in addition to the prior two characteristics the firms produces similar products.
Bob and john are oligopolists in the market for ice cream. If Bob and John engage in a price war will the price of ice cream in their town be closer to Perfectly competitive market or a monopolistic?
Perfectly competitive, because both firms will compete to earn a greater market share (they are "price takers"), leading to prices that more closely resemble a perfectly competitive market than a monopolistic market (one dominant "price making" firm).
List and describe the characteristics of a perfectly competitive market?
There are multiple characteristics which correspond to an ideally competitive market. These are a rule of law and contracts enforcement, competition through multiple merchants, market integrity against anti-competitive behaviors, and consumer confidence.
Does refractive surgery meet the characteristics of a perfectly competitive market?
I think that no medical practise can be tagged as a perfectly competitive market. In issues of health, we do not have perfect information about the best alternatives to consume (different surgeons), and that is one of the key requirements of perfect competition. Moreover, due to the reduced number of surgeons, they are able to control prices, being nearer to a framework of monopolistic competition.
How did the government prevent monopolies from forming?
Before 1990 the market of India was somehow monopolistic. After 1990 Govt. permitted foreign industries to do business in India. After that market became perfect competitive. Thus by permitting more companies to do business Govt. can prevent monopolistic from forming.
Why demand always downward slop in competitive market?
The reason why demand curve is always downward slopin a competitive market is because there are many sellers and buyers in the market.so the price of a commodity in such market determines the demand and supply of that product.unlike a monopolistic market were there is just öne seller and many buyers
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.
Characteristics of perfect competitive market?
A perfectly competitive market has many competitors. There is no one competitor that has more say in product prices within the industry.
What is the disadvantage monopolistic competition?
competitive advertising can be wastefull
Listing three market structures and giving two characteristics of each?
Oligoply-which market dominated by small numbers, control the marjorty of the market share. monopolistic competition- called competitive market large number of firms, small proportion of the maeket share and slightly differetiate products monopoly- one provider of a product or service., help eliminate small business. your welcome =]
What are two types of competitive markets?
Monopolistic competition and oligopoly
