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How will equilibirium be determined under discriminating monopoly with two markets?
It will be so because it will not achieve a social equilbrium of marginal benefit (demand) = marginal cost (supply). It will instead set a private profit equilibrium where private benefit (marginal revenue) = marginal cost and thus create a deadweight inefficiency equal to the difference in total social surplus between the regions.
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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 are three kinds of economic markets?
I only know two : oligopoly and monopoly. sorry i dont know the third...
What are the two types of economic markets?
The two main types of economic markets are perfect competition and monopoly. In a perfect competition market, numerous buyers and sellers exist, leading to an optimal distribution of resources and prices determined by supply and demand. In contrast, a monopoly is characterized by a single seller dominating the market, allowing them to set prices without competition, often leading to inefficiencies and reduced consumer choice. Other market structures, such as monopolistic competition and oligopoly, also exist but are variations of these two primary types.
Give characteristics of imperfect market competition?
1. only one firm sell the product or good 2. No close substitute 3. There are barriers to entry into monopoly competition
Is characterized by the unregulated exchange of service and goods?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
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.
Which economic markets describes a situation with many buyers but only one seller?
monopoly
What are three kinds of economic markets?
I only know two : oligopoly and monopoly. sorry i dont know the third...
What are the two types of economic markets?
The two main types of economic markets are perfect competition and monopoly. In a perfect competition market, numerous buyers and sellers exist, leading to an optimal distribution of resources and prices determined by supply and demand. In contrast, a monopoly is characterized by a single seller dominating the market, allowing them to set prices without competition, often leading to inefficiencies and reduced consumer choice. Other market structures, such as monopolistic competition and oligopoly, also exist but are variations of these two primary types.
Give characteristics of imperfect market competition?
1. only one firm sell the product or good 2. No close substitute 3. There are barriers to entry into monopoly competition
European nations were NOT satisfied with establishing free trade with Africa and Asia during the era of imperialism because?
european nations wanted monopoly control of markets and resources.
Is characterized by the unregulated exchange of service and goods?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
What is characterized by the unregulated exchange of services and goods.?
A free market is a market where prices are determined by supply and demand. Free markets contrast with controlled markets in which prices, supply or demand id directly controlled.
How is the value of a resource determined?
In traditional markets, the value of a resource is determine by demand. If the product is highly demanded, then the value will be high.
Application of microeconomics?
micro economics is applied in determining the output and prices, demand and supply of goods, working of different markets like perfect competition, monopoly, oligopolistic etc.
How much does a condo or a house cost?
There is no standard amount, pricing being determined by individual markets where the condominium or house may be located.
Why is John D Rockefellers oil company called a monopoly?
It was called a monopoly because if you wanted kerosen, most likely you would have to get it from one of Rockefellers refiners. He supplied kerosene by tank cars that brought the fuel to local markets, and tank wagons then delivered to retail customers, bypassing everybody else.
