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Apple can be considered a monopolistic competitor in certain markets, particularly in the smartphone and personal computer sectors. While it holds significant market power due to brand loyalty, innovation, and a unique ecosystem, it still faces competition from other firms like Samsung, Microsoft, and Google. This competition leads to differentiation in products, allowing Apple to maintain some pricing power while not being a pure monopoly. Overall, Apple exists in a market characterized by many competitors offering similar but differentiated products.
What else can I help you with?
Is Apple Computer a perfectly competitive firm?
yes
How are a monopolistic firm and a competitive firm similar?
Monopoly means that there are no competitor for your product or servises
Characteristics of a monopolistic competitive market?
one firm which sells a good price set by that firm hard for other firms to enter market
Is it true the demand curve of a monopolistic competitive firm is more elastic than that of a pure monopolist?
YES
What happens to monopolistic competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
What is the market structure of apple?
I think the market structure of the apple is oligopoly because the firm like apple creating the ipod and iphone is some what few not exceed to 10 also. so, the firm apple applies to oligopoly market structure.
Dominos fast food firm is a monopolistic firm or not?
it is not a monopoly firm
What does the monopoly surplus graph reveal about the market power and economic efficiency of a monopolistic firm?
The monopoly surplus graph shows that a monopolistic firm has market power, meaning it can set prices higher than in a competitive market. This leads to economic inefficiency because the firm produces less and charges higher prices, resulting in a deadweight loss for society.
What is the competitive dimension of monopolistic firm?
The competitive dimension of a monopolistic firm lies in its ability to differentiate its products from those of competitors, which allows it to exert market power and influence prices. Unlike pure monopolies, monopolistic firms operate in markets with many competitors but offer unique products, leading to brand loyalty and reduced price sensitivity among consumers. This differentiation enables them to maintain a degree of control over pricing and output, even as they face competition from similar products. Ultimately, their competitive strategy focuses on innovation, marketing, and customer experience to enhance their market position.
What did Stevens do?
He founded Apple, the computer and technology firm, and was its CEO until his death in 2011.
Bob and john are oligopolists in the market for ice cream. If Bob and John engage in a price war will the price of ice cream in their town be closer to Perfectly competitive market or a monopolistic?
Perfectly competitive, because both firms will compete to earn a greater market share (they are "price takers"), leading to prices that more closely resemble a perfectly competitive market than a monopolistic market (one dominant "price making" firm).
Can a monopolistic competitive firm earn long run profit?
In the long run, if a firm is making a profit more firms will enter. This will cause profit to drop. Firms will eventually drop out because of this and economic profit will makes it way to zero(a result of the invisible hand).
