answersLogoWhite

0


Best Answer

The question is incomplete. No options are given (for which of the following) to answer the question. firms face downward-sloping curves

User Avatar

Wiki User

8y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What markets comes closes to the model of perfect competition?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Economics

What is the purpose of commodity futures options trading?

Commodity futures options trading allows potential buyers and sellers to compete freely in an efficient manner. There is no such this as an ideal market, but this market comes closer to perfect than other markets.


What is the impact of international competition?

International competition allow consumers to have more options when it comes to products. They also help prices fall because the market is more competitive.


What is the difference between bear and bull markets when it comes to stock investing?

Bull market investors have a more hopeful attitude about the state of things and thus the bull markets are rising whereas bear market investors take a more pessimistic stance on things and are thus falling.


Perfect competition is more desirable than monopoly because perfect competition result in large output and lowest price Discuss?

in terms of the consumer, a monopolistic firm can raise his prices higher than his costs as much as he wants because there are no rivals to compete with in terms of price. In fact the demand curve for a monopolistic form is almost full inelastic. However, it is just almost inelastic, because there are some indirect alternatives to every good or service provided. However, in cases where the consumer really can't do without the good, he is forced to pay the high prices offered by the monopolistic firm. Example, no matter how much fuel rises in price, people will still demand of it, even if they can barely afford it, because it has become a necessity which allows us to carry out everyday tasks.Hence, Perfect Competition is better because it allows the consumer to benefit from the lowest price possible that the firm can provide. This is because, as there should be very manyfirms in a Perfect Competitive market structure, they all of them are competing with the price, and price tends to get lower in the long-run terms as the market's supply curve tends to shift outwards. Please don't understand me wrong, firms are price takers, all products and prices are homogenous to all firms. But when it comes to price this is caused because the firms are competing so much to win the largest market share that they eventually end up all selling with the same price and hence, selling at their marginal cost of producing the good.


Why does the government carefully m onitor horizontal mergers?

Most governments will monitor horizontal mergers because there is a risk that they will reduce competition, leaving customers with less choice of where to buy from. In extreme cases, a lack of competition can lead to higher prices. Horizontal mergers refer to mergers between companies that supply the same products or services to the same customer group. Vertical mergers by contrast refer to a company joining with one of its suppliers or customers. The problem for regulators comes in deciding what market - the products, services and customers - should be considered. The definition of the market is often what is challenged in court when companies appeal against a regulator's decision. The other problem for regulators is deciding how few companies in a market will cause limited competition. In countries like Australia, many markets effectively end up as duopolies, in other words with just two dominant players. This is because the size of the market is too small to economically support more than two large players; more players would mean that economies of scale are not being met

Related questions

What is some information about competition in the desert?

There is a lot of competition in the desert. This competition comes primarily for the need for food and water.


The person who comes first in a game or competition?

game


What is the purpose of commodity futures options trading?

Commodity futures options trading allows potential buyers and sellers to compete freely in an efficient manner. There is no such this as an ideal market, but this market comes closer to perfect than other markets.


What actors and actresses appeared in When the Perfect Comes - 2004?

The cast of When the Perfect Comes - 2004 includes: Randy Molnar as Man


As Robert comes to see the narrator becomes more confident in the catherdal?

he closes his own eyes


Is a bimetallic strip a relay?

No, but it controls one. When it makes contact the relay closes and the system comes on.


How do you look perfect?

nobody's perfect ...keep that in mind :)And just be your self that's perfect and it comes naturally!


What is the Latin word for perfect?

The word "perfect" comes from the Latin verb perficio.


In the Cathedral As Robert comes to see the narrator becomes more confident only as?

He closes his own eyes


What is the perfect cube of 27000?

It is not a perfect cube it comes 33 × 23 × 5 ×29


What are the release dates for Competition Specials - 2002 Here Comes the Cake 1-27?

Competition Specials - 2002 Here Comes the Cake 1-27 was released on: USA: 16 November 2003


What animale is related to a horse?

Believe it or not. The Rhino and Tapir are the horses closes relatives. The zebra comes behind them. Sweeney_Todd_Fan