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Which of the following is one way that a few businesses can gain some control over their market?
A.secretly cooperate with one another
Company with total control over one market?
monopoly
What role does market play in the distribution of goods and services?
Definition of 'Perfect Competition'A market structure in which the following five criteria are met:1. All firms sell an identical product.2. All firms are price takers.3. All firms have a relatively small market share.4. Buyers know the nature of the product being sold and the pricescharged by each firm.5. The industry is characterized by freedom of entry and exit.Definition of 'Oligopoly'A situation in which a particular market is controlled by a small group of firms.An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.Definition of 'Monopoly'A situation in which a single company or group owns all or nearly all of the marketfor a given type of product or service. By definition, monopoly is characterized by an absence of competition, which often results in high prices and inferior products. According to a strict academic definition, a monopoly is a market containing a single firmDefinition of 'Monopolistic Market'A type of market that features one, if not all, of the traits of a monopoly such as high price levels, supply constraints, or excessive barriers to entry. Because this type of market would be comprised of one supplying firm, consumers would have no choice but to purchase solely from this firm. Without This type of market stands in contrast to a perfectly competitive market.
What are the examples of duopoly market?
A situation in which two companies own all or nearly all of the market for a given type of product or service.A duopoly is a market condition in which two companies producing a similar type of product have control over the market.For Example:The most popular example of duopoly is between Visa and Mastercard who exercise a major control over the electronic payment processing market in the world.Pepsi and Coca-cola are the two major shareholders in the soft drinks market. Airbus and Boeing are duopolies in the commercial jet aircraft market
How does product customization achieve the speed and efficiency of mass production?
this much faster time to market ad customizing capability is beginning to provide American firms with tremendous advantage over foreign competitors including the japanese, who seem bewildered by this new development.
What ways that a few firms can gain some control over their market?
They can gain some control over their market by secretly cooperating with one another.
What is one way that a few firms can gain some control over their market?
Secretly cooperate with one another.!
How do economists measure the degree of competition in a market?
_Amount of control a firm or a group of firms have over the total market supply _The amount of influence a firm or group of firms have over market price _The freedom new suppliers have to enter the market
Why did some corporations seek to gain control over their market?
What they were usually after was price control and thus maximizing profits through market control.
There is no control over price by firms in?
Pure competition
How do monopolistic competitive firms fare in the long run in terms of earning potential compared to other market structures?
Monopolistic competitive firms generally have lower earning potential in the long run compared to firms in other market structures. This is because they face competition and have less control over prices due to product differentiation.
Which of the following is one way that a few businesses can gain some control over their market?
A.secretly cooperate with one another
What are the characteristic of a market structure?
· Two firms in the industry · Strong control over price. · Uses Non price competition to compete · Very strong Barriers to entry
Is the automotive industry considered an oligopoly?
Yes, the automotive industry is considered an oligopoly because it is dominated by a small number of large firms that have significant control over the market.
How much control does monopolist have over pricing?
Total control, as there is no competition the monopoly vendor can ask any price they wish. That is why monopolies are bad for society and Governments have to intervene in the capitalistic market.
Why is there no supply curve for a monopoly?
In a monopoly, there is no supply curve because the monopolist has control over the entire market supply and can set the price independently of the quantity supplied. This is different from a competitive market where multiple firms determine supply based on market forces.
What are some example of opligopoly?
http://www.answers.com/library/Investment%20Dictionary-cid-57121 Oligopoly A situation in which a particular market is controlled by a small group of firms.An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.Investopedia Says:The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market.
