Remarkable: Advantages And Disadvantages Of Oligopoly
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An organization could be a small business a restaurant, a hairdresser, a singer, an artist, a gift shop, a street vender, etc. You could choose to discuss the market structure in which a specific organization is operating in, or you could choose to discuss the advantages, disadvantages, and differences between larger structures such as private versus public ownership, capitalism versus socialism , and corporate ownership versus small private ownerships. To start, select an organization a private small business , a corporation, a charity, or a government agency that you wish to analyze for this assignment. Your research needs to be structured with consistent and clear thoughts. It also needs to be supported by facts and data. Your results need to be based on solid facts.Purely and perfectly competitive firm 1. A purely- or perfectly-competitive firm would be characterized by which of the following?
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Large number of firms, price taker, free entry and exit, and standardized product Don't use plagiarized sources. Large number of firms, price maker, free entry and exit, and a differentiated product C. Small number of firms, price maker, limited entry and exit, and a standardized product D. One firm, price maker, limited entry and exit, and a unique product 2. For a purely-competitive firm, price must be A. What will excessive or economic profits induce for a firm in any industry structure? This kind of firm may successfully engage in price discrimination to increase its total profit if it A.
Oligopolies are characterized by a small number of firms where the top three firms hold the majority of the market. If in an oligopoly market, firm A is almost twice as big as firm B and firm C then A. In a monopolistic competition industry, if one firm appreciably increased its price from the existing equilibrium price, which of the following outcomes would most Advantages And Disadvantages Of Oligopoly ensue?
It would likely suffer a significant decrease in its market share, because its competitors would be unlikely to deviate from the established equilibrium price. The firm would stand to gain much additional revenue if its competitors did not follow suit by raising their prices.
It would probably see no change in its revenue position as its competitors would raise their prices accordingly. Which factor characterizes the competitive relationship between firms in an oligopoly market structure?
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Total independence of action-reaction B. Despite the relatively small number of oligopoly firms, the action s of any one firm have little direct effect on the decisions of its competitors. The common practice of collusive price- setting. Unregulated natural monopolies maintain their status through a variety of measures. Whether any particular measure can effectively constrain new firms from entering the market depends on A. Regulated monopolies are empowered by public authority for which specific reason?
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The provision of a good or service that, if left to the free market system, would http://pinsoftek.com/wp-content/custom/life-in-hell/aztecas-del-norte-the-chicanos-of-aztlan.php additional government regulation to prevent negative externalities to consumers as well as the public. The need to avoid the unnecessary use of duplicate resources that could be more efficiently employed by a single supplier to meet the needs of the broadest range of consumers.
The public policy of protecting consumers from the excesses of unrestricted, demand-driven pricing. The government as goal of maintaining artificially low prices for particular goods or services. Using a significantly greater economy of scale with attendant lower, long-run average total costs to restrict the market entry of new competitors A. In technology-intensive oligopolies characterized by dynamically evolving product design restricting the entry of additional firms is A.]
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