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Which of these controls prices and availability in an industry?
Monopoly ~ APEX :)
What happens to price when there is a monopoly?
When there is a monopoly, the general direction of prices is upward. Because of no competition, buyers have no other choice from where to purchase the products. The monopoly company is then free to raise prices at will.
Why doesn't demand equal marginal revenue in a monopoly and how come this discrepancy occurs?
In a monopoly, demand does not equal marginal revenue because the monopoly firm has the power to set prices higher than the marginal revenue. This discrepancy occurs because the monopoly has control over the market and can influence prices to maximize profits, unlike in a competitive market where prices are determined by supply and demand forces.
Under which market structure is there no control over prices?
monopoly
What is a person or business that controls distribution and prices of a product or service?
a monopoly
Which of these controls prices and availability in an industry?
Monopoly ~ APEX :)
What happens to price when there is a monopoly?
When there is a monopoly, the general direction of prices is upward. Because of no competition, buyers have no other choice from where to purchase the products. The monopoly company is then free to raise prices at will.
What happens to price when there is monopoly?
When there is a monopoly, the general direction of prices is upward. Because of no competition, buyers have no other choice from where to purchase the products. The monopoly company is then free to raise prices at will.
Which of the these controls prices and availability in an industry?
A monopoly controls prices and availability in an industry.
How might monopoly affect prices?
a monopoly if it has a high demand can push prices up simply people will pay for something that is in demand where as a monopoly with low demand will carry on selling the item for less but the way a monopoly works means that the person who is operating the monopoly will shift the supply lower to always push the price up.
What impact does the diamond industry monopoly have on the global market and consumer prices?
The diamond industry monopoly can lead to higher consumer prices due to limited competition. This monopoly can also influence the global market by controlling supply and pricing, potentially creating artificial scarcity and driving up prices.
Under which market structure is there no control over prices?
monopoly
Why doesn't demand equal marginal revenue in a monopoly and how come this discrepancy occurs?
In a monopoly, demand does not equal marginal revenue because the monopoly firm has the power to set prices higher than the marginal revenue. This discrepancy occurs because the monopoly has control over the market and can influence prices to maximize profits, unlike in a competitive market where prices are determined by supply and demand forces.
What impact do monopoly rent prices have on consumer choice and market competition?
Monopoly rent prices can limit consumer choice by reducing options and increasing prices. This lack of competition can stifle innovation and lead to higher costs for consumers.
What is a person or business that controls distribution and prices of a product or service?
a monopoly
What are agreements among companies to keep prices at a certain level?
Monopoly
How does a monopoly increases a corporations profits?
by eliminating competition to control prices
