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Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition?
Because monopolistically competitive firms have an optimal production allocation at monopoly values: marginal revenue = marginal cost, marking-up to the demand function. When competition is not perfect, marginal revenue does not equal demand but is always below it on a Cartesian plane, so the optimal production value of a monopolistically competitive firm is both less and at a higher price than a perfectly competitive one.
What else can I help you with?
What are the four types of economic competition?
pure or perfect, monopolistic, oligopoly, and monopoly
What are the four degrees of competition that exist in a capitalistic economy?
The four degrees of competition that exist in a capitalistic economy are: perfect competition, monopolistic competition, oligopoly, and monopoly.
What is the Price elasticity of demand in each of the four market structures - perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
What provides the least amount of competition options 1 Perfect competition 2 Monopolistic competition 3 Oligopoly 4 Monopoly?
A monopoly provides the least amount of competition, as it is characterized by a single seller dominating the market with no close substitutes for its product. This lack of competition allows the monopolist to set prices and control supply without concern for rival firms. In contrast, other market structures like perfect competition, monopolistic competition, and oligopoly involve multiple firms, leading to varying degrees of competition.
Different types of market structure?
monopoly,perfect competition,monopolistic competition,
Types of Market Competition?
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
What are the four types of economic competition?
pure or perfect, monopolistic, oligopoly, and monopoly
What are the four degrees of competition that exist in a capitalistic economy?
The four degrees of competition that exist in a capitalistic economy are: perfect competition, monopolistic competition, oligopoly, and monopoly.
Name the four kinds of industry infrastructure?
perfect, monopolistic,oligopoly, and monopoly
What is the Price elasticity of demand in each of the four market structures - perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
What is the Price elasticity of demand in each of the four market structures perfect competition monopoly monopolistic competition and oligopoly?
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
What are the 4 basic market structure and explain how they differ from one another?
The four basic market structures are perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition has many small firms producing identical products, while monopolistic competition has many firms selling similar but not identical products. Oligopoly has a few large firms dominating the market, while a monopoly has a single firm controlling the entire market. The main difference between them lies in the number of firms in the market and the level of product differentiation.
What provides the least amount of competition options 1 Perfect competition 2 Monopolistic competition 3 Oligopoly 4 Monopoly?
A monopoly provides the least amount of competition, as it is characterized by a single seller dominating the market with no close substitutes for its product. This lack of competition allows the monopolist to set prices and control supply without concern for rival firms. In contrast, other market structures like perfect competition, monopolistic competition, and oligopoly involve multiple firms, leading to varying degrees of competition.
Different types of market structure?
monopoly,perfect competition,monopolistic competition,
What are the four types of markets recognized by economists?
Economists recognize four primary types of markets: perfect competition, monopolistic competition, oligopoly, and monopoly. Perfect competition features many sellers and buyers with identical products, leading to no single entity controlling the market price. Monopolistic competition involves many sellers offering differentiated products, allowing for some price control. Oligopoly consists of a few dominant firms that can influence prices, while a monopoly is characterized by a single seller controlling the entire market for a product or service.
What type of competition is Marriott International Is it perfect monopolistic oligopoly or a monopoly?
Marriott International operates in an oligopoly market structure within the hospitality industry. While there are many hotel brands, a few large companies, including Marriott, dominate the market, leading to limited competition. This allows Marriott to exert significant influence over pricing and services while still facing competition from other major hotel chains. Thus, it does not fit the characteristics of a monopoly or perfect competition.
Three main types of market concentration?
Heres four:Monopoly, Oligopoly, Monopolistic competition and Perfect competitionHope that helpsp.s. just research each of them on the internet. Most common in Australia is Monopolistic Competition
