Are US markets becoming less competitive and, therefore, less efficient?

Q: supermarket chains market can be given as an example of what kind of markets, and why?

A: Supermarket chains are chains of similar kinds of products sellers like D-mart, I-mart ,Best price ,…

Q: What are the two essential characteristics of a competitive market?

A: ANS A competitive market is a market in which there exist many sellers selling homogeneous goods to…

Q: Consider supply in the long run. Assume that a specific tax is imposed on a good that was…

A: Introduction: When all inputs are variable, the long provide is the provision of commodities out…

Q: Does a change in technology lead to a shift in the demand curve? Why, or why not? Your answer cannot…

A: Actually in the given question the change in technology or the technological progress always allows…

Q: In what direction does the supply curve shift when technology is improved? Draw this curve.

A: Technology is an important determinant of supply. When technology is discovered, it reduces many of…

Q: Suppose Sam sells apples, picked from his apple tree, in a competitive market. Assume all apples are…

A: a) Marginal cost is expanding/increasing as an ever-increasing number of variable input sources are…

Q: Do higher costs mean higher prices?

A: In economics, cost is a monetary value that is incurred in order to produce goods and services for…

Q: Which of the following graphs represents the supply for peanut butter if the cost for peanut…

A: Demand and Supply In the field of economics, demand is defined as the willingness and capacity of…

Q: The graph shows the cost curve of a firm in a competitive market. If the market price is $30, what…

A: A competitive market is characterized by a large number of buyers and sellers. Each seller will be…

Q: The introduction of new technology can affect the amount of supply a business will produce. Will it…

A: The supply schedule illustrates what the firms can produce at every price point and how much they…

Q: You're shopping online, and you place an item in your virtual cart. Two days later, you return to…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: You run a produce stall at a farmer's market, but rather than sell your own goods, you travel to…

A: The market for Carrot, Turnips and Oranges are given as follows.Your MarketMarket AMarket…

Q: When I was studying Intermediate Microeconomics recently, I found this statement: "For markets with…

A: The objective of the question is to verify the truthfulness of a statement related to the behavior…

Q: If new technology in a perfectly competitive market brings about a substantial reduction in costs of…

A: The term "perfect competition" refers to a fictional market structure in which all suppliers are…

Q: what sort of shift in supply or demand would result in a market equilibrium with higher prices and…

A: Demand curve is downward sloping and supply curve is upward sloping in the price, quantity space.…

Q: The oversupply of bananas in Mexico, which is recorded in the months of September and October,…

A: The increase in income that occurs from the sale of one more unit of production is known as marginal…

Q: Fill in the blanks When competitive markets are freely allowed to come to equilibrium,. achieved. is

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: n economics terms ,what does it mean for a firm to be the right size for a market?

A: Economics is the study of use of scarce resources by the people having unlimited wants of these…

Q: In what sense is a competitive equilibrium a good or bad thing for a given economy?

A: When talking about competitive equilibrium, it is the situation in the market where many firms…

Q: Many countries are predominantly agricultural. how would changes in the supply of fertilizer affect…

A: Fertilizers in general are used to increase productivity, particularly in the agricultural sector.…

Q: If suppliers of tea cut supply in markets, what can we expect to happen to the market for coffee?

A: If tea supply decrease then it will leads to increase in its price and decrease in its quantity in…

Q: The cost of production of a good can increase, which will cause profits to decrease. Will it cause…

A: If the cost of production rises, then the supplier will face increasing costs for every unit of…

Q: How does competition affect prices in a market system? How does it affect supply(what producers…

A: Competition could be a situation within which two or more people or groups try to induce something…

Q: Can a market be productively efficient but allocatively inefficient? Why is it bad for a market to…

A: Productive Efficiency is the scenario in which the economy uses the available resources to their…

Q: How do price controls affect the workings of a perfectly competitive market? Use a supply demand…

A: The maximum or minimum price set by the government for a particular goods and services is known as…

Q: At the exact same time as the very cold winter in France wiping out most of the crop of Pinot Noir…

A: At the exact same time as the very cold winter in France wiping out most of the crop of Pinot Noir…

Q: Why are participants in competitive markets called price takers?

A: A market is the collection of buyers and sellers. It is the system in which buyers and sellers can…

Q: What are the main characteristics of a lean supply system?

A: A lean supply system can be understood as a well-defined system that shows how a well-defined supply…

Q: Describe several strategies that companies can use to remain competitive in the globa economy

A: There are several strategies that a company can use to stay competitive in the global economy. 1.…

Q: Say whether the following statement makes Good Economic Sense, is Complete Economic Nonsense, or is…

A: The market is a place where the buyers and sellers together interact in the market place and as a…