0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Are there homogeneous products in an oligopoly?
Homogeneous products are in a monopoly, oligopoly, monopolistic, monopoly and pure competition according to economics. for the purpose of analysis.
5 Describe the characteristics of an oligopoly market structure?
differentiated product only no entry either homogeneous or differentiated product difficult entry
Define oligopoly and monopoly?
Monopoly means an absolute power to produce and sell a product which has no close substitution. Oligopoly means a few sellers sell differentiated or homogeneous products. e g automobile industry
Monopoly assumptions in economics?
sole supliers no close subsstitutes homogeneous lack of knowldge of buyers
What best states the main difference between a monopoly and a monopolistic competition?
monoplistic competition involves slightly differentiated products while monoply involves a single product.
Are there homogeneous products in an oligopoly?
Homogeneous products are in a monopoly, oligopoly, monopolistic, monopoly and pure competition according to economics. for the purpose of analysis.
What are properties of homogeneuos mixtures?
In a homogeneous mixture substances cannot be differentiated.
5 Describe the characteristics of an oligopoly market structure?
differentiated product only no entry either homogeneous or differentiated product difficult entry
Define oligopoly and monopoly?
Monopoly means an absolute power to produce and sell a product which has no close substitution. Oligopoly means a few sellers sell differentiated or homogeneous products. e g automobile industry
Monopoly assumptions in economics?
sole supliers no close subsstitutes homogeneous lack of knowldge of buyers
What best states the main difference between a monopoly and a monopolistic competition?
monoplistic competition involves slightly differentiated products while monoply involves a single product.
What best states the main difference between monopoly and monopolistic competition?
monoplistic competition involves slightly differentiated products while monoply involves a single product.
What is an monopolistic?
Monopolistic competition is a market situation that is different from both perfect competition (PC) and monopoly. The theory of monopolistic competition was first developed by Chamberlin. In monopolistic competition the firms sell differentiated yet highly substitutable products, whereas in PC, the firms engage in production of homogeneous products. This product differentiation gives the firms a bit of monopoly power in pricing and they face slightly downward sloping demand curve as compared to the horizontal demand curve of PC. However, the free entry and exit of firms ensures that these firms have limited monopoly and no super normal profits arise in the long-run.
How are a monopolistic firm and a competitive firm similar?
Monopoly means that there are no competitor for your product or servises
Is Disney an oligopoly?
Disney is not an oligopoly. An oligopoly is a small number of firms who work together to sell a homogeneous or differentiated product. It is instead an industry that has many outputs of different products.
What is the meaning of Moderately differentiated?
Being partially differentiated, or not terminally differentiated.
What important characteristics do all three types of imperfectly competitive firms share?
1.They all involves sellers and buyers 2.They both involves commodities which are bought and sold despite the fact that are either differentiated or homogeneous 3.They do not necessarily involves a specific place[area] for the transctions to be conducted 4.All are types of imperfect market structure(ie. monopoly, oligopoly,monopson, etc.) 5.They all depends on price and quantity
