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Which of the following describes a feature shared by both monopolistic competition and perfect competition a.absolute power b.standardized products c.no barriers to entry or exit in the long run?
Wiki User
∙ 12y ago
c) no barriers to entry or exit in the long run
Wiki User
∙ 12y ago
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What is monopolistic competition?
In a monopolistic market a large number of sellers or producers sell differentiated products.It differs from perfect competition that the products sold by different firms are not identical. that is why in a monopolistic market sellers can sell differentiated products in slightly different prize.As example Nokia sells its Music Express phones in slightly higher prize than the other music phones of other companies because of its differentiated features.
How do you best describes the relationship between competition and a free-market economy?
The following statement best describes the relationship between competition and a free market system: Competition increases within a free market system.
What best describes a situation where oligopoly exists?
When many producers are selling slightly differentiated products is a situation where monopolistic competition exists.
What describes the effect of outsourcing on the labor market in the United States?
Competition for jobs increases and wages go down.
Which of following best describes the effect of outsourcing on the labor market in the US?
Competition for jobs increases and wages go down
What is monopolistic competition?
In a monopolistic market a large number of sellers or producers sell differentiated products.It differs from perfect competition that the products sold by different firms are not identical. that is why in a monopolistic market sellers can sell differentiated products in slightly different prize.As example Nokia sells its Music Express phones in slightly higher prize than the other music phones of other companies because of its differentiated features.
How do you best describes the relationship between competition and a free-market economy?
The following statement best describes the relationship between competition and a free market system: Competition increases within a free market system.
What is the term that describes a group of firm cooperating with each other in order to avoid competition?
Collusion describes a group of firms cooperation with each other in order to avoid competition.
Which word describes all the organisms is one kind?
competition
What word describes fighting for the same limited resource?
competition
What best describes a situation where oligopoly exists?
When many producers are selling slightly differentiated products is a situation where monopolistic competition exists.
Which word best describes the relationship between foxes and lynxes when it comes to shelter?
competition
What best describes the scramble for Africa?
A competition between European imperial powers to control Africa
What is a word beginning with inter that describes a competition between school known as?
Interscholastic is the word you seek.
European nations competed in establishing colonies in the New World Which term best describes this competition?
rivalry
What describes Adam Smiths ideas about the cause of economic growth?
Free markets, competition, laissez-faire
What describes the effect of outsourcing on the labor market in the United States?
Competition for jobs increases and wages go down.
