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Under what market structure does the firm have the most control over prices?
Monopoly
Evaluate price and output determination under imperfect market structure?
Would it not be a Monopolistic with imperfect market structure
How is price determined under imperfect market?
Remember under this market there's a government intervention.the Government determine the prices of the market by using the minimum(the minimum that the market can charge) and maximum wage(Maximum that the market can charge)
What do you under by duopoly in market structure?
A duopoly is a market structure characterized by the presence of only two dominant firms that control the majority of the market share for a particular product or service. These firms are interdependent, meaning the actions of one significantly influence the other, often leading to strategic interactions such as price setting and product differentiation. Duopolies can result in reduced competition compared to more fragmented markets, potentially leading to higher prices and reduced consumer choice. Examples of duopolies can be seen in various industries, such as the airline industry or telecommunications.
Under what conditions do marketers have no flexibility in price control?
Marketers have no flexibility in setting prices under conditions of
Under what market structure does the firm have the most control over prices?
Monopoly
Evaluate price and output determination under imperfect market structure?
Would it not be a Monopolistic with imperfect market structure
Are prices charged by DSL Internet providers set by the FCC?
The prices for DSL are not governed by the FCC. The market sets the prices. In particular the prices are higher where there is less competition and prices are lower where there is more competition. Most business in the US is free enterprise, which create competition for pricing and services. The FCC does not control the pricing of anything. The FTC might step in in case of price fixing, monopolies, etc. but in a free market, the government does not control prices. You are under no obligation to pay prices you feel are out of line. If enough consumers follow suit, the prices will fall.
How is price determined under imperfect market?
Remember under this market there's a government intervention.the Government determine the prices of the market by using the minimum(the minimum that the market can charge) and maximum wage(Maximum that the market can charge)
What are objectives of pricing under each market structure?
It depends on which market ... say if you were dealing with produce and linguistic the structure would be unstable as apposed to a market dealing with land and building proposals.
What do you under by duopoly in market structure?
A duopoly is a market structure characterized by the presence of only two dominant firms that control the majority of the market share for a particular product or service. These firms are interdependent, meaning the actions of one significantly influence the other, often leading to strategic interactions such as price setting and product differentiation. Duopolies can result in reduced competition compared to more fragmented markets, potentially leading to higher prices and reduced consumer choice. Examples of duopolies can be seen in various industries, such as the airline industry or telecommunications.
Under what conditions do marketers have no flexibility in price control?
Marketers have no flexibility in setting prices under conditions of
Under perfect competition, can a business firm accept losses?
Under perfect competition, a business firm can accept losses in the short term, as long as it believes that it can recover and make profits in the long run. This is because in a perfectly competitive market, firms have no control over prices and must accept the market price for their goods or services.
What is the difference between a cartel and a trust?
A cartel is an agreement between competing firms to control prices or limit competition in a specific market, often through collusion. A trust is a legal entity created to combine multiple businesses under common ownership to reduce competition and control markets. Both aim to restrict competition but operate differently in terms of structure and legality.
How does the market economy function?
Market economy functions under the price mechanism. Prices of goods and serviced are determined by the interaction of demand and supply forces.
Why did companies form trusts?
Companies formed trusts in order to consolidate control over a particular industry or market, allowing them to eliminate competition and increase profits. By combining multiple companies under one trust, they could set prices, control production, and dominate the market. Trusts were a way for companies to work together to achieve greater power and influence.
What type of economy is not under private control?
A market economy is not under the private control. A command economy is one where decisions are made by the government only, thus making it a private economy. In market economy, anyone can decide what business to do and what to make.
