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Explain FOUR (4) unethical practices in oligopoly markets.
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- State and explain two (2) key differences in market structure between Monopolistic Competition and Monopoly.Question 14 An oligopoly is a market structure, dominated by more firms than a monopolistic structure. False Truei)Do you think monopolistic competetion markets operate efficiently? ii)Do you think oligopoly markets operate efficiently?
- QUESTION 7 An oligopoly is a market with only a few sellers, each offering a similar or identical product. True False(a) There are two companies in the world that produce large passenger aircraft, Boeing, and Airbus. How would you characterize the market for large passenger aircraft, monopoly, perfectly competitive, monopolistically competitive or Oligopoly? Please explain. Large passenger aircraft are defined as aircraft than can carry more than 150 passengers. (b) The market for telephone services has become more competitive over time with the advancement of technology in the industry. Technology in the aircraft manufacturing industry has also advanced significantly. Why hasn’t this improvement in technology led to an increase in competition (Boeing and Airbus have been the only manufacturers in this industry for many years)? Please explain.When there are only TWO (2) producers within an industry, this situation is called a/an __________________. Monopoly Duopoly Oligopoly Monopolistic Competition
- Style Question 4: (a) Compare and contrast monopoly and perfect competition market structures in the Long-run. Click or tap here to enter text. (b) Discuss the advantages and disadvantages of these two markets structures? Would a monopolist increase society's economic welfare? Click or tap here to enter text.conomics 1.) Are Concentration Ratios Low, Moderate or High in a Monopolistic Competitive Market? Explain why its low, moderate or high. [Chapter 11 Oligopoly] 2.) Explain how Monopolistically Competitive Firms develop A.) Market Power and B.)Firm's Control over Price. Also, describe and explain The Shape of the Monopolistic Competitive Firm's Demand Curve. [Chapter 11 Oligopoly] 3.) Describe and explain how Oligopoly fırms behave when it comes to Rivals, Price Competition , Non-price competition (advertising , product differentiation and Brand Loyalty) and market share strategies. [Chapter 11 Oligopoly]J Copyright © McGraw-Hill Education. Permission is granted to reproduce for classroom use. NAME DATE CLASS Math Practice for Economics Comparing Prices among Competitors networks Background information: The candy industry in the United States could be defined as an oligopoly because just three companies make 99.4% of snack size chocolates. The big three companies are Hershey's, Mars, and Nestle. All three companies use much of the same ingredients, so how do they compete against one another? This is primarily done through price. Directions: The two tables below show what a snack size chocolate costs from the various candy makers, big and small. Read the table below. Then, answer the following questions using the information in the table. 110 ct bag $18.12 = 16 cents each Walmart Amazon Hershey's 215 ct. bag $13.88 = 6 cents each 100 ct. bag $12.81 = 13 cents each Mars 230 ct. bag $13.88 = 6 cents each Nestle 70 ct. bag $8.98 = 13 cents each 55 pc. Bag $17.96 = 33 cents each Candy…
- Question 1a. With the aid of a diagram explain how a monopolist determines how muchoutput to produce and what price to charge. [4 marks]b. Explain how the perfectly competitive firm decides whether to operate or shutdown in the short run. [4 marks]c. Explain why firms operating in monopolistically competitive markets probablywill not earn an economic profit in the long run. [4 marks]d. Why does interdependence of firms play a major role in oligopoly but not inperfect competition or monopolistic competition? [4 marks]An oligopoly takes into account the decisions made by other companies before lowering its price.. true or false18. Horizontal Integration is most likely to lead to an industry that is: monopolistically competitive an oligopoly any of the other answers O perfectly competitive
