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How is monopolistic competition like monopoly?
Monopolistic competition is an imperfect form of competition where the products sold by each competing company are similar, but not identical. An example is that of Android smartphones. So, although the supply of each phone product is a monopoly, a similar product from another manufacturer will be a suitable substitute for most consumers.
A significant difference between perfect competition and monopolistic competition is that?
Product differentiation
Is product of shampoo include in monopolistic or perfect competition?
Monopolistic Competition
What country is capitalist and why?
The United States of America is a capitalist country. The reason for this is that the government thought it was unconstitutional for the people to be able to buy a product created by only one company. That company might make the price of that certain product incredibly high, knowing he or she has no competition from other companies.
In a free market what impact does a shortage have on consumers?
Cosumers will buy more of the product and it will discourage producers
What is the difference between direct competition and indirect competition?
Direct competition is a company that offers a product that customers may choose over your product. Indirect competition is a company that offers a substitute good.
When a company has no competition in selling it's product it said to have a?
Monopoly
What is product positioning?
A definition of how the company intends for customers to view its product relative to the competition - APEX
What are the types of competition faced by a company?
Some of the types of competition faced by a company include similar services or goods produced by a rival company. Another type of competition arises where a very different product or service threatens to nullify the need for a company's existing product. For example, cellphones reduced the need to have pagers.
One company controls the market for a certain product there is no competition?
monopoly
Why is business monopoly good for businesses?
It isn't, in practice. A monopoly, a single company controlling a commodity or product, will provide all the profit to that company. But without any competition the company will have no need to improve the product or service or the cost of that service or product, thus innovation is stifled. Healthy competition therefor improves the service or product and fosters invention and entrepreneurship.
What exists when only one company provides a product or service without competition?
monopoly
What is Competition Based Pricing?
Competition based pricing is a price set by a company for a product to compete with another company's pricing. Production and distribution costs are ignored to drive demand towards another brand. This method of pricing can cause a long-term decrease in product perception and decrease a product's value for future profits.
What type of discount is given to wholesalers?
as far as discounts are concerned, it entirely depends on the product, the company, the competition, ur PR, company targets and volumes
Company X sells a good where there is a lot of competition. Companies enter and leave the market often.?
Monopolistic Competition
How is monopolistic competition like monopoly?
Monopolistic competition is an imperfect form of competition where the products sold by each competing company are similar, but not identical. An example is that of Android smartphones. So, although the supply of each phone product is a monopoly, a similar product from another manufacturer will be a suitable substitute for most consumers.
What is the meaning of unwanted situation?
The unwanted situation means the company declining stage, inflation of the particular product, the company lose the market for without facing the competition etc.,
