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Firms already in an industry to either expand or contract their capacities and new firms to enter or existing firms to leave.

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Compare and contrast price vs non-price competition?

Price competition refers to as who will sell for the lowest price. Meanwhile, non-price competition refers to the person who can sell the most attractive product.


Inter-specific competition is competition among what?

Inter-specific competition refers to competition between individuals of different species that vie for the same resources, such as food, space, or light. This type of competition can influence population dynamics, species distributions, and community structure in ecosystems. It often leads to adaptations in species as they evolve strategies to minimize competition, such as niche differentiation.


What is the difference between monopolistic competition and oligopoly?

While monopolistic competition features many small firms competing against each other, oligopoly features competition amongst a few large firms. Both structures represent imperfect market competition.


Why perfect competition also known monopolistic competition?

Perfect competition and monopolistic competition are distinct market structures, but they share some similarities. Perfect competition features many firms selling identical products, leading to no single firm influencing market prices. In contrast, monopolistic competition has many firms as well, but they sell differentiated products, allowing for some degree of market power. The term "monopolistic" in monopolistic competition refers to this ability of firms to set prices above marginal cost due to product differentiation, which is not present in perfect competition.


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.

Related Questions

Compare and contrast price vs non-price competition?

Price competition refers to as who will sell for the lowest price. Meanwhile, non-price competition refers to the person who can sell the most attractive product.


When roosevelt refers to unusual times and disaster what historical event is he discussing?

The Great DEPRESSION


When discussing stocks te term stock yields refers to the?

rate of dividends per share


Define interpersonal competition and just give example?

Interpersonal competition refers to rivalry between 2 or more persons, such as student competition in class.


What is talk in maori?

In Māori, "talk" is often translated as "kōrero". It refers to the act of speaking, discussing, or conversing.


What does the term "action" refer to when discussing a guitar?

In guitar terminology, "action" refers to the height of the strings above the fretboard.


What does streak mean?

A streak refers to a continuous or unbroken sequence of occurrences, performances, or wins in a particular activity or competition. It can indicate a consistent pattern or trend over a period of time.


Is competition a common noun?

The word "competition" is a common uncapitalized noun. On the other hand "Olympics" is a proper noun and is capitalized. Olympics refers to a definite competition.


What is the name for multiple millenia?

The term for multiple millennia is "millennia." A millennium refers to a period of one thousand years, so when discussing more than one, the plural form "millennia" is used. For example, two thousand years would encompass two millennia.


What does the period mean in MS-DOS?

One period refers to the current directory. Two periods refers to the parent directory.


What is the long refractory period?

The long refractory period refers to the period of time after an action potential during which a cell is unable to generate another action potential. This ensures that cells have enough time to recover before firing again, allowing for proper signaling and coordination in the nervous system.


Habbo Hotel Jacob quest answers?

This question refers to a competition which has expired.