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For one, their may be somewhat close substitutes. Microsoft may still advertise because there is the threat of Mac OS, Unix, etc. Major League Baseball faces threats from other sports and non-pro ball.
Monopolists still need to inform their customers of new products or services, as well as maintain their brand image.
whaty
What else can I help you with?
Which is the reason why there is no advertising by individual firms under pure competition?
Under pure competition, firms produce a homogeneous product, so there is no reason to advertise. Pure competition is also known as perfect competition.
What is a basic difference between pure competition and monopolies?
The basic difference between pure competition and monopolies lies in the number of sellers and market control. In pure competition, numerous firms sell identical products, leading to price-taking behavior where no single firm can influence the market price. In contrast, a monopoly exists when a single firm dominates the market, enabling it to set prices and control supply without competition. This results in higher prices and reduced consumer choice compared to a competitive market.
What are the four types of monopolies?
natural, geographic, technological, government
What was Woodrow Wilson's thoughts on monopolies?
Wilson felt that monopolies were bad.
What is breaking up monopolies called?
what is breaking up of monopolies call
What prevents a pure monopoly from occurring?
Monopolies are usually bad for society so governments either nationalise them or regulate them.
Which is the reason why there is no advertising by individual firms under pure competition?
Under pure competition, firms produce a homogeneous product, so there is no reason to advertise. Pure competition is also known as perfect competition.
What does 75c stamped on gold mean?
It means its 75% pure gold...much more and it would be too soft to wear. Be aware, cheats will advertise .75c which is less than 1% pure gold.
What is a basic difference between pure competition and monopolies?
The basic difference between pure competition and monopolies lies in the number of sellers and market control. In pure competition, numerous firms sell identical products, leading to price-taking behavior where no single firm can influence the market price. In contrast, a monopoly exists when a single firm dominates the market, enabling it to set prices and control supply without competition. This results in higher prices and reduced consumer choice compared to a competitive market.
People who opposed monopolies argued that monopolies?
Eliminated competition
What did Woodrow Wilson view monopolies as being?
monopolies were bad
What are the four types of monopolies?
natural, geographic, technological, government
What was Woodrow Wilson's thoughts on monopolies?
Wilson felt that monopolies were bad.
What is breaking up monopolies called?
what is breaking up of monopolies call
Give me an example of companies that are a pure monopoly?
There are many legal monopolies. The United States Postal Service is the only letter mail provider and is government funded to make it run at a loss.
What is the basic difference between pure competition and monopolies?
The basic difference between pure competition and monopolies lies in market structure and control over prices. In pure competition, many firms offer identical products, leading to price-taking behavior where no single firm can influence market prices. Conversely, a monopoly exists when a single firm dominates the market, allowing it to set prices above the competitive equilibrium and restrict output to maximize profits. This results in less consumer choice and potentially higher prices compared to a competitive market.
How did Wilson approach the problem of monopolies?
He used the law to restrict the actions of monopolies.
