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Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition?
Because monopolistically competitive firms have an optimal production allocation at monopoly values: marginal revenue = marginal cost, marking-up to the demand function. When competition is not perfect, marginal revenue does not equal demand but is always below it on a Cartesian plane, so the optimal production value of a monopolistically competitive firm is both less and at a higher price than a perfectly competitive one.
Why Japanese Firms tend to be so competitive?
Japanese firms are competitive because they want to make a profit. They typically do this by expanding outside of Japan.
What is the Mass production cost efficient?
Mass production is cost-efficient because it allows manufacturers to produce large quantities of goods at a lower per-unit cost. This efficiency arises from economies of scale, where fixed costs are spread over a larger number of units, reducing the cost of production. Additionally, standardized processes and automation in mass production minimize labor and material expenses, further driving down costs. Ultimately, this approach enables businesses to offer competitive pricing while maintaining profitability.
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
Why economists say competitive markets are efficient?
Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.
Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition?
Because monopolistically competitive firms have an optimal production allocation at monopoly values: marginal revenue = marginal cost, marking-up to the demand function. When competition is not perfect, marginal revenue does not equal demand but is always below it on a Cartesian plane, so the optimal production value of a monopolistically competitive firm is both less and at a higher price than a perfectly competitive one.
Why are people competitive in sports?
The reason people are competitive in sports is because they enjoy it more than others
Why is it possible for competition among firms to force down to capital intensive production?
It is possible for competition to force competitors into capital intensive production in order to compete. When a firm does this, they can gain a competitive edge over others in the industry and get more customers because their competition will have to charge more to cover the expenses.
What happens when you add a competitive predator to an area?
it starts to eat all the organisms that live, there because it's competitive.
What is the most competitive species and why?
The most competitive species is probably the human race. This is because there are no predators and space and food is limited.
Why are little sisters competitive?
because they want to try to be better
Why are beautry pageants bad?
because women can get very competitive
What technique is used to play a trumpet?
There really is no technique for playing the trumpet because everyone has there own way of playing it.
What was the Production Budget for Because of Winn-Dixie?
The Production Budget for Because of Winn-Dixie was $15,000,000.
If you have assessed that your friend is unresponsive What should you do next?
The head-tilt/chin-lift technique is the recommended technique in this situation because there are no injuries and it's simple, safe, and effective. The head-tilt/chin-lift technique is the recommended technique in this situation because there are no injuries and it's simple, safe, and effective.
Why Japanese Firms tend to be so competitive?
Japanese firms are competitive because they want to make a profit. They typically do this by expanding outside of Japan.
Why are interscholastic sports bad for kids?
Because it's too competitive.
