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What is monopoly and how price and output decisions taken under monopoly?
Monopolistic competition refers to the the exclusive possession or control of the supply or trade in a commodity or service.
What is the Price output determination under monopolistic competition?
Define monopolistic competition. How price & output is determined under monopolistic competition.Answer: - monopolistic competition: - in 1933, a Harvard university professor, Edward chamberlain" published his book, "the theory of monopolistic competition" in which he defined monopolistic competition as:Definition: - "a market model with freedom of entry and large number of firms that produce similar by slightly differentiated products, advertisement being the principal tool for differentiating the products".Define monopolistic competitionThere are various goods like soap, cloth, & tooth paste, which are produced under monopolistic competition.CONDITIONS OF MONOPOLISTIC COMPETITION: - following are the important conditions of monopolistic competitionSellers and buyers: - there is a large number of buyers and sellers in the monopolistic market. Generally, the number of firms is within 25-30.Small share of supply: - each firm acts independently and produce a small share of the total output.Differentiated products: - the product of each firm can be differentiated by trade mark or packing.Entry of new firms: - in a monopolistic competition, new firms can easily enter into the market.Inefficient firms in the market: - inefficient firms also live in the market side by side & sell the defective products.Control over price: - a firm has only limited control cover the price of the product according to its supply.Elastic demand curve: - the demand curve of the firm is negatively sloped, and because there are many firms in the market which are producing a similar commodity. Therefore, the demand for the products of each firm is elastic.Advertising: - In a monopolistic competition, firms spends a lot of money on advertisement, to attract the consumers.Stiff competition: - there is a stiff competition among the firms for the sale of a particular brand, not only in price but also in the quantity of the product.
Evaluate price and output determination under imperfect market structure?
Would it not be a Monopolistic with imperfect market structure
Explain price determination under monopolistic competition?
My heartfelt apologies, I don't mean to be rude. But, is this a loaded question? If it is a monopoly, there's no competition. Therefore you can determine the price any way you want. {eijgniy: hey there is such a market called monopolistic competition.
What is an example company that operates under monopolistic competition?
One example of a company that operates under monopolistic competition is Starbucks. In this market structure, Starbucks differentiates its products through branding, quality, and customer experience, allowing it to have some control over pricing and attract loyal customers despite facing competition from other coffee shops.
What is monopoly and how price and output decisions taken under monopoly?
Monopolistic competition refers to the the exclusive possession or control of the supply or trade in a commodity or service.
Which among the following Acts bans the practice of requiring a customer to purchase a second good?
The practice of requiring a customer to purchase a second good is banned under the Clayton Act, specifically through its provisions against tying arrangements. This Act aims to promote fair competition and prevent monopolistic practices by prohibiting certain types of exclusive agreements and unfair trade practices.
How is uranium exported?
In very restrictive conditions, under international control and under the surveillance of IAEA.
What is the Price output determination under monopolistic competition?
Define monopolistic competition. How price & output is determined under monopolistic competition.Answer: - monopolistic competition: - in 1933, a Harvard university professor, Edward chamberlain" published his book, "the theory of monopolistic competition" in which he defined monopolistic competition as:Definition: - "a market model with freedom of entry and large number of firms that produce similar by slightly differentiated products, advertisement being the principal tool for differentiating the products".Define monopolistic competitionThere are various goods like soap, cloth, & tooth paste, which are produced under monopolistic competition.CONDITIONS OF MONOPOLISTIC COMPETITION: - following are the important conditions of monopolistic competitionSellers and buyers: - there is a large number of buyers and sellers in the monopolistic market. Generally, the number of firms is within 25-30.Small share of supply: - each firm acts independently and produce a small share of the total output.Differentiated products: - the product of each firm can be differentiated by trade mark or packing.Entry of new firms: - in a monopolistic competition, new firms can easily enter into the market.Inefficient firms in the market: - inefficient firms also live in the market side by side & sell the defective products.Control over price: - a firm has only limited control cover the price of the product according to its supply.Elastic demand curve: - the demand curve of the firm is negatively sloped, and because there are many firms in the market which are producing a similar commodity. Therefore, the demand for the products of each firm is elastic.Advertising: - In a monopolistic competition, firms spends a lot of money on advertisement, to attract the consumers.Stiff competition: - there is a stiff competition among the firms for the sale of a particular brand, not only in price but also in the quantity of the product.
What is restalin?
A return to Stalin's more restrictive policies, under Brezhnev's rule.
How did trade change under manchu rlue?
Under Manchu rule, particularly during the Qing dynasty, trade expanded significantly, both domestically and internationally. The Qing government initially maintained a restrictive approach, limiting foreign trade to specific ports like Canton. However, as demand for Chinese goods such as silk, tea, and porcelain grew, trade increased, leading to greater interactions with European powers. The opium trade, in particular, altered the dynamics of trade, contributing to economic challenges and conflicts, including the Opium Wars.
Evaluate price and output determination under imperfect market structure?
Would it not be a Monopolistic with imperfect market structure
Explain price determination under monopolistic competition?
My heartfelt apologies, I don't mean to be rude. But, is this a loaded question? If it is a monopoly, there's no competition. Therefore you can determine the price any way you want. {eijgniy: hey there is such a market called monopolistic competition.
What is an example company that operates under monopolistic competition?
One example of a company that operates under monopolistic competition is Starbucks. In this market structure, Starbucks differentiates its products through branding, quality, and customer experience, allowing it to have some control over pricing and attract loyal customers despite facing competition from other coffee shops.
Is the restaurant industry oligopoly?
The fast-food industry itself is an oligopolistic market, but it operates under the monopolistic competitive market of restaurants in general.
Can a parole officer restrict?
Yes, a parole officer has full restrictive and disciplinary power over the parolees under his supervision.
Under what symbol did the Mortgage Lender trade under?
There are many mortgage lenders that traded under symbols. Most mortgage lenders needed to be honest and thus, had to trade under the Federal Trade Commission.
