one difference between monopolistic competition and oligopoly is that firms in monopolistic competition are assumed to:
Answers
Answer:
Monopolistically competitive firms are assumed to independently set the price of their differentiated product.
Explanation:
Monopolistic competition and oligopoly are two types of market structure.
Definitions:Monopolistic competitionMonopolistic competition is characterized by several competing sellers in an industry with differentiated products. In this market structure, monopolistically competitive firms have lesser barriers to entry or exit. Additionally, the consumers view the monopolistically competitive firms' products as somewhat different from the goods produced by competing firms. However, the consumers view those competing products as close substitutes. Thus, product differentiation is crucial in the success and longevity of monopolistically competitive firms. Product differentiation is the process of attracting customers by creating a feature or image that will make a product stand out or distinguishable from the existing products in the market. Through product differentiation, monopolistically competitive firms can have some control over setting prices on their products, which gives them limited market power. Although, the amount of products that the firms could sell is also contingent on the number and prices of existing substitute products in the market.
OligopolyIn contrast, oligopoly is a type of market structure characterized by a handful of major producers that have the power to influence to set the prices of their goods through price leadership. The actions taken by an oligopolist may significantly affect the sales of other firms in the same industry—when a leading oligopolistic firm increases its price, the other firms will likely follow suit. Hence, the prices of comparable goods are often similar.
Under this market structure, firms have a cost advantage compared to smaller firms due to increasing returns to scale. This means that the oligopolists could produce their products in larger volumes using lesser inputs. It is also difficult for new entrants to enter an oligopolistic industry due to lack of sufficient capital investment.
Related Questions
Complete the following sentence with the options listed below.
A _________ is a person who _______ a public good that others _________.
O free rider; pays for; use
O payer; enjoys; pay for
O nonexcludable payer; purchases; determine to be nonrivairous
O free rider; enjoys; pay for
O Ione rider; enjoys; pay for
Answers
A free rider is a person who enjoys a public good that others pay for.
What is a free rider?Anyone who enjoys something without putting up any effort or paying for it is considered a free rider. Free riders, then, are people who make use of things without paying for them.
What does a free rider look like?requesting contributions Consumer donations made voluntarily may compensate again for free riders. For instance, soliciting donations in a museum or garden. The donation sums would assist in paying for the garden/museum even if there were still free riders.
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Taryn is 16 years old in a state where the age of majority is 19. Taryn plans to begin working at a restaurant next week. Her parents are willing to let her use one of their cars, but she wants her own car. If Taryn buys a car for fair market value, would she be able to return the car and get a full refund
Answers
Since Taryn is a minor does have special contractual rights when he purchases necessaries. In this case Taryn does not really need the car since his parents have offered the use of car.
The car dealer could not legally refuse to take the car back and must return Taryn's money.
Fair market value:The fair market value of a piece of property is the price at which it would change hands between a willing and informed buyer and seller. The term can be found throughout the Internal Revenue Code, as well as in numerous state laws, bankruptcy laws, and regulatory bodies. In real estate, a property's determined fair market value (FMV) is the price it will sell for on the open market. A willing buyer and seller who are both reasonably knowledgeable about the property in question agree on the FMV.
How significant is fair market value?Parties can agree on a fair market value provided certain conditions are met. It usually takes place in legal settings and implies free and open market activity. Insurance companies and tax authorities use it extensively.
Question is incomplete . Missing part is:
Taryn is 16 years old in a state where the age of majority is 19. Taryn plans to begin working at a restaurant next week. Her parents are willing to let her use one of their cars, but she wants her own car. If Taryn buys a car for fair market value, would she be able to return the car and get a full refund. Explain the answer.
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Which are affected by the factors of production? Check all that apply.
A.) the demand of the item
B.) the availability of the item
C.) the cost of the item
D,) the quality of the item
E.) the popularity of the item
Answers
Answer:
A
C
D
Explanation:
without demand no reason to product it
The cost of a item also greatly affects it
and how well they can make it without being too expensive
one of the justifications for intervention in markets is the potential to improve the market outcome in markets characterized by externalities.
Answers
One of the main justifications for intervention in markets is to improve market outcomes in markets characterized by externalities. An externality occurs when the actions of one person (or group) have an unintended effect on another person (or group) that is not part of the original transaction.
Externalities can result in market failure, which occurs when markets are unable to allocate resources in an efficient manner. Interventions in markets characterized by externalities are used to improve the market outcome. Government policies can be used to reduce the effects of externalities and make the market more efficient. For example, the government can impose taxes on pollution to reduce the amount of pollution that is released into the environment. These taxes increase the cost of producing goods, which encourages firms to reduce their pollution output.
Other interventions in markets can also be used to improve the market outcome. Government subsidies can be used to reduce the cost of producing goods or services, making them more accessible and increasing the demand for them. Regulations can also be used to protect the public from harm, such as requiring safety testing of products or limiting the amount of pollutants in the air.
Intervention in markets characterized by externalities is an important part of economic policy, as it can help improve the market outcome and reduce market failure. By using taxes, subsidies, and regulations, the government can reduce the effects of externalities and make markets more efficient.
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Labor costs that are clearly associated with specific units or batches of product because the labor is used to convert raw materials into finished products are called: Select one: a. Indirect labor. b. Direct labor. c. Product labor. d. Finished labor. e. None of the above.
Answers
The costs that are clearly associated with specific units or batches of product is called: Direct labor.
What is direct labor?Direct labor are wages and salaries paid to workers whose work can be traced directly to specific products or services. They are wages incurred in order to produce goods or provide services to customers.
Example of direct labor include:
AssemblersWeldersPaintersHence, labor costs that are clearly associated with specific units or batches of product because the labor is used to convert raw materials into finished products are called direct labor.
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tqm must emphasize all of the following except? a. communication b. individualism c. recognition d. leadership
Answers
TQM must emphasize all of the following except individualism
Why it is so ?The Total Quality Management (TQM) approach emphasizes several key factors for improving the quality and efficiency of processes within an organization. These factors include communication, recognition, and leadership. However, TQM does not emphasize individualism as a key factor for success. Instead, TQM focuses on collaboration, teamwork, and collective effort to achieve the best results.
What is TQM?Total Quality Management (TQM) is an ongoing process to identify and reduce or eliminate errors in manufacturing, streamline supply chain management, improve the customer experience, and ensure employees are up to date with training. process. Total Quality Management aims to hold all parties involved in the production process accountable for the overall quality of the final product or service.
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While developing a new product, in the product development stage, the first versions of products are used in further consumer testing. These first versions of products are called
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In the product development stage, the first versions of products that are used while developing a new product and in further consumer testing are called: prototypes.
A product life cycle can be defined as the stages (phases) that a particular product goes through, typically from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) main stages in the product-life cycle;
Introduction.Growth.Maturity.Decline.A prototype can be defined as the the first versions of products that are manufacture and used while developing a new product and in further consumer testing.
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how has the right to education addressed to differently able persons?How far is it appropriate to keep such provision with view of justice?Present your logics.
Answers
Answer:
,
Explanation:
i think this is answer right
which measure of central tendency best relates to each situation? - the usual cost of a house in a neighborhood. - the usual t-shirt size. - the typical weight of an adult squirrel. mean mode median
Answers
The chosen unit of measurement for family income central tendency is the median. For standard t-shirt sizes, the mode is preferable. for an adult squirrel's usual weight, and mean.
Which central tendency measure is the best and why?As a result of using all values in the data set to calculate an average, the mean is the most widely used measure of central tendency. The median is preferable to the mean for analyzing data from skewed distributions.
Which four central tendency measurements are there?The mean, median, mode, and the midrange are the four central tendency measures. The arithmetic mean of the maximum and minimum values in a set of statistical data is used here as the midpoint or mid-extreme.
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Common Stock issued is? Asset Bond Liability O Liability Equity
Answers
Common Stock issued is an equity. In the context of a company's capital structure, common stock represents ownership in the company. When a
Company issues common stock, it is essentially selling ownership shares to investors. These shareholders become the owners of the company and have certain rights, such as voting rights and the potential for dividends. Equity, in general, refers to the ownership interest in a company's assets after deducting liabilities. It represents the residual claim on the company's assets once all debts and obligations have been paid. Common stock is a component of the equity section of company's company as shareholders contribute capital in exchange for ownership shares.
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what problem of overlapping governmental jurisdictions is inherent in all multinational corporations?
Answers
The Extraterritoriality problem of overlapping governmental jurisdictions is inherent in all multinational corporations.
The multinational corporations or transnational corporations in which any corporation or business which is to registered and that operates or performs in more than one country at the same time.
The multinational corporations is also known as MNCs, there companies headquartered is in more than one country.
The Extraterritoriality is the problem which occurs in the state extends its legal power beyond its territorial boundaries. It is the competence of a country' state that apply its laws to the other foreign entities in relation to their products.
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Of every 500,000 jobs in the U.S., the approximate number of those through international firms are _____.
Answers
Answer:
90,000
Explanation:
what do you mean by problem solving skill ?
Answers
Answer:
Explanation:
problem-solving skill is the skill that refers to solving a problem in a situation. For instance, a problem would be a spill, and wiping it with a tissue would be the solution.
Answer:I hope this help I loving helping people good luck itchai72777
Explanation:
Problem-solving skills are the ability to identify problems, brainstorm and analyze answers, and implement the best solutions. An employee with good problem-solving skills is both a self-starter and a collaborative teammate; they are proactive in understanding the root of a problem and work with others to consider a wide range of solutions before deciding how to move forward
Problem solving is the act of defining a problem; determining the cause of the problem; identifying, prioritizing, and selecting alternatives for a solution; and implementing a solution. The problem-solving process. Problem solving resources
It is the methods we use to understand what is happening in our environment, identify things we want to change and then figure out the things that need to be done to create the desired outcome. Problem solving is the source of all new inventions, social and cultural evolution, and the basis for market based economies
Suppose your expenses for summer school are as follows: tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term?
Answers
The opportunity cost of attending college this semester is $6500.
Using the following formula, opportunity cost is determined as follows: Opportunity Cost is calculated as Return on the Most Profitable Investment - Return on Investment Pursued.
= $5,000+$3,000- $500.=6500
The value of the best alternative foregone when, due to limited resources, a decision must be made between numerous mutually exclusive alternatives is known as the opportunity cost in microeconomic theory. If the best option is chosen, the "cost" is the loss of the benefit that would have been gained from selecting the next-best option. It is described as "the loss of potential gain from other choices when one alternative is chosen" in the New Oxford American Dictionary. The goal of opportunity cost, as a depiction of the link between scarcity and choice, is to ensure efficient use of limited resources.
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Your savings account pays 1. 75% interest per year. You make a $500 deposit. How much interest does the account earn in the first month. A) $. 14 b) $. 17 c) $. 50 d) $. 73.
Answers
Possibility b is correct. The interest the account earns in the first month is $17.
The annual interest rate is the annual interest rate, assuming interest is compounded each year. For example, a $10,000 loan with an annual interest rate of 5% will cost you $500.
Annual interest rate is applicable only to the principal loan amount. With practice, it becomes more convenient to compare different interest rates from different sources when looking for a loan.
First, multiply the principal P, the interest rate R, and the holding period T by the number of years. For annual interest, divide the P*R*T result by 100. To get monthly interest, divide simple interest by 12 for 1 year, divide by 24 months for 2 years, and so on.
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The account earns $17 in interest in the first month.
Hence, Option B is correct.
How does it occur?
Assuming interest is compounded annually, the annual interest rate is the annual interest rate. For instance, if the annual interest rate on a $10,000 loan is 5%, the cost to you will be $500.Only the loan's principle is subject to the annual interest rate. When looking for a loan, it gets easier with time to compare various interest rates from various providers.First, increase the number of years by the principal P, interest rate R, and holding term T. Divide the P*R*T result by 100 to get the yearly interest rate. Divide simple interest by 12 for a year, by 24 for two years, and so on to obtain monthly interest.Know more about interest here:
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What happens to the federal funds rate when there is a recession?
Answers
During a recession, the federal funds rate is typically lowered in order to stimulate economic growth and encourage borrowing and spending. When the federal funds rate is lowered, it becomes less expensive for banks to borrow money from the Federal Reserve, which can then be lent to consumers and businesses at lower interest rates. This can help stimulate economic activity and potentially lead to an economic recovery. However, the exact response of the federal funds rate to a recession will depend on a variety of factors, including the severity of the recession and the specific policies implemented by the Federal Reserve.
1. County Title Company processes information furnished by others to transfer title to real estate from Dali to Ezra. The furnished information is mistaken. The contract between Dali and Ezra may be rescinded because the mistakea. may be rescinded because the mistake affects a third party.b. may be rescinded if the mistake is subject to only one interpretation.c. none of the choicesd. may be rescinded because the mistake is about a material fact.2.An agreement that involves an option to buy real property need not be in writing for the option to be enforced.TrueFalse
Answers
County Title Company processes information furnished by others to transfer title to real estate from Dali to Ezra. The furnished information is mistaken. The contract between Dali and Ezra may be rescinded because the mistake is a material fact. Option D
What is a contract?Generally, A contract is an agreement that is legally binding between two or more parties. This agreement establishes, defines, and controls the parties' respective rights and duties to one another.
In most cases, the exchange of products, services, or monetary value takes place as part of a contract, or the parties make a commitment to do so at a later time.
A fact is considered to be material if it is one that a reasonable person would perceive as being relevant to a decision that is to be made, as opposed to a detail that is inconsequential, trivial, or otherwise irrelevant. In other words, it is a fact, the concealment of which would likely lead to a conclusion that is different from what was originally intended.
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What best describes the main purpose of a budget
Answers
Explanation:
A budget helps create financial stability. By tracking expenses and following a plan, a budget makes it easier to pay bills on time, build an emergency fund, and save for major expenses such as a car or home. Overall, a budget puts a person on stronger financial footing for both the day-to-day and the long term.
list the 3 types of resume format
Answers
Answer:
Explanation:
chronological, functional, and combination.
hope i helped.
Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $5 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 10,000 shares of common stock at $7 per share. Issued 20,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. Purchased 3,000 shares of treasury stock at $10 (part of the 20,000 shares issued at $8). What is the balance in the Treasury Stock account at the end of 2021
Answers
Answer:
"$30,000" is the appropriate solution.
Explanation:
Given:
Paid dividends,
= $50,000
Purchased shares of treasury stock,
= 3,000 (at $10)
Now,
At the end of 2021,
The balance in treasury stock account will be:
= \(Purchased \ shares \ of \ treasury \ account\times 10\)
= \(3000\times 10\)
= \(30,000\) ($)
why is international improvement important
Answers
Answer:
Because they have farts
Explanation:
its mindness
TRUE OR FALSE. one way for a buyer to increase its bargaining power is to purchase large volumes of a single product.
Answers
The statement "one way for a buyer to increase its bargaining power is to purchase large volumes of a single product" is true. By purchasing large volumes of a single product, a buyer can increase their bargaining power with the supplier.
This is because the supplier will be less likely to want to lose the buyer as a customer, and will therefore be more willing to negotiate on price. The supplier will be less likely to want to lose the buyer as a customer because the buyer represents a large volume of sales. If the buyer were to switch to a different supplier, the supplier would lose out on a significant amount of revenue. This gives the buyer more leverage in negotiations and allows them to demand a lower price.
In addition, the supplier may be more willing to offer other concessions to the buyer, such as better terms of payment or a longer warranty. This is because the supplier wants to keep the buyer happy and ensure that they continue to purchase large volumes of the product.
Therefore, by purchasing large volumes of a single product, a buyer can increase its bargaining power with the supplier and negotiate a better price.
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From the list of character traits, select five traits that you believe are essential when searching for a job.
Alertness
Attentiveness
Availability
Cautiousness
Compassion
Contentment
Cooperation
Courage (Boldness)
Creativity
Decisiveness
Deference
Dependability
Determination
Diligence
Discernment
Discipline (Self-Control)
Discretion
Endurance
Enthusiasm
Faith
Flexibility
Forgiveness
Generosity
Gentleness
Gratefulness
Honesty (Truthfulness)
Hospitality
Humility
Initiative
Loyalty
Meekness
Obedience
Orderliness
Patience
Persuasiveness
Positivity (Joyfulness)
Punctuality
Resourcefulness
Respect (Honor)
Responsibility
Sensitivity
Sincerity
Thoroughness
Thriftiness
Tolerance
Trustworthiness
Virtue
Wisdom
Answers
Hey there!
Cooperation ~ you have to get along with a lot of people in a job, and learn to work together with them
Dependability ~ you will need to be dependent, you won't always want someone holding your hand, you will have to figure things out yourself eventually
Determination ~ You will want to be determined to achieve high potential in your job, and you will be more successful
Tolerance ~ you may have to tolerate certain issues in jobs, and certain conditions
Positivity ~ You will want to be positive and enjoy what you are doing in order to do better. A lot of people say that if you enjoy your job, you will never actually "work" a day in your lives, since you enjoy it.
Hope this helps! Good luck and have a great day!
A travel agent is able to offer a client a 15 percent discount on a luxury hotel suite that normally
costs $375 per night. What is the discounted rate?
Answers
Answer:
Discounted amount luxury hotel suite = $56.25
Explanation:
Given:
Discount rate on luxury hotel suite = 15%
Cost of luxury hotel suite = $375 per night
Find:
Discounted amount luxury hotel suite
Computation:
Discounted amount luxury hotel suite = Discount rate on luxury hotel suite x Cost of luxury hotel suite
Discounted amount luxury hotel suite = 375 x 15%
Discounted amount luxury hotel suite = 375 x 0.15
Discounted amount luxury hotel suite = $56.25
The Bradshaw family has $200,000 of total assets and $140,000 of liabilities. What is their net worth?
Malleable
Measurable
Maintainable
Manageable
Answers
Answer: $60,000
Explanation:
The Net worth of a person or people can be calculated by deducting their liabilities from their total assets.
The net worth of the Bradshaw family is therefore;
= 200,000 - 140,000
= $60,000
The options given are not for this question. There is a similar question which asks what the M in the Goal-setting acronym S.M.A.R.T stands for.
The answer to that is Measurable.
The accounting equation can be stated as
A. Expenses = Liabilities - Owner's Equity
B. Assets - Liabilities = Owner's Equity
C. Liabilities = Revenue + Owner's Equity
D. Owner's Equity = Assets + Liabilities.
Answers
Answer:
a
Explanation:
a
Advertising, sales promotion, public relations, and buzz building activities are all ________. A) channels that should be integrated under the concept of integrated marketing communications B) channels focused more on interactive marketing than traditional marketing C) promotional tools used for push strategies but not pull strategies D) promotional tools used for pull strategies but not push strategies
Answers
Answer:
B
Explanation:
Hope it helped you1
what is the first step in creating the federal budget?
Answers
Answer:
The President Submits a Budget Request The president sends a budget request to Congress each February for the coming fiscal year, which begins on Oct. 1. 5
Katie, a researcher, submits a document to Sayeed, the marketing manager of GK Corp. The document serves as a written contract between Katie and Sayeed and lists the activities that will be undertaken by Katie to develop the needed information for the research, the research deliverables, how long it will take, and what it will cost. In this scenario, Katie has most likely submitted ________.
Answers
What Katie has likely submitted to to Sayeed is known as a research proposal.
What is a research proposal?This is a structured document that is used to state the reasons that a person wants to conduct a research.
The research proposal also tells the reading the reason why it is going to be worthy to research in the area.
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What are the 3 questions of production?
Answers
Three fundamental inquiries must be addressed: a) What products and services are necessary? b) How are these products and services going to be made? c) Who makes use of the generated goods and services?
What is meant by production?Production is the process of creating or producing items and products from components or raw materials. To put it another way, manufacturing takes inputs and uses them to produce an output fit for consumption—a good or product with value for an end-user or consumer. Economic production is an activity that is managed and accountable by an institutional unit and that uses labour, capital, goods, and services as inputs to produce outputs of goods or services. Production includes all actions taken to create goods and services in order to generate income and satiate consumer demand. Production is the act of manufacturing, gathering, or constructing something, as well as the volume in which something was produced. The making of furniture is an illustration of production. Harvesting corn for consumption is an example of production.To learn more about production, refer to:
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