Q: Consider in the graph to the right the demand curve for bananas. The movement from point C to A…
A: Demand curve is a curve that shows an inverse relationship between price and quantity demanded.
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A: Meaning of Perfect Competition: The term perfect competition refers to the market under which…
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A: The demand curve is a downward sloping curve, which shifts due to changes in the factors other than…
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A: Demand is an economic theory that refers to a consumer's desire to buy products and services as well…
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A: Perfect competition refers to the situation where there are large number of prouder and consumers…
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A: Perfectly competitive does not exist in reality. It is theoretical possibility of a market with the…
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A: Elasticity measures the responsiveness of quantity demanded with respect to change in price.
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A: A supply curve is the relationship between the price of the product and the quantity supplied…
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A: Blank 1 - Less The report will scare the consumer about the bad health so the consumer will start…
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A: A competitive pricing model is a pricing strategy employed through agencies in a market economy to…
Q: Is a competitive market “efficient”? Define efficiency and explain.
A: A competitive market is a market in which there exist a large number of buyers and sellers, the…
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Q: Find supporting evidence that competition makes markets more efficient in this case.
A: Competition arises when the number of sellers in the market increase, as more firms join an industry…
Q: In a competitive market, firms sell homogeneous type of products. а. Т b. F
A: Competitive Market: It is a form of market where there are large number of buyers and a large number…
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A: Meaning of Market: The term market refers to the situation under which the producers or the…
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A: The market is a system in which the exchange of goods and services takes place in terms of money.…
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A: Perfectly competitive market: - it is a market condition where there are many buyers and many…
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A: Perfectly competitive market is one type of market in which many buyers and sellers are there and…
Q: Are US markets becoming less competitive and, therefore, less efficient?
A: Yes. US markets becoming less competitive and, therefore, less efficient.
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A: Answer: Introduction: In perfectly competitive markets all the firms supply identical goods. Buyers…
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Q: perfectly competitive market
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A: In economics, a market is a mechanism that brings together buyers and sellers of goods or services.…
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A: The market structure is solely controlled by the market force. If the market forces are met then…
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Q: If demand for the peach industry is given by P=100-.04Q and supply is given by P=.01Q.Assume the…
A:
Q: In the long run, in a competitive economy, companies use resources until the extra or marginal…
A: (Q) In the long run, in a competitive economy, companies use resources until the extra or marginal…
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- The development of a new production technique that lowers the cost of producing product X will shift the supply curve of product X to the right. A.True B.FalseHow did the lauch of Apple's ipad effect the competitive market environment? High prices and high profits in a competitive generally lead to new suppliers entering the market, prices sliding down the market demand curve, the market supply curve shifting to the right, and significant product and technological innovation.How do price controls affect the workings of a perfectly competitive market? Use a supply demand diagram as part of your answer.
- Answer the following questions. 1. In the year 2000, the town of Cuenca in Batangas did not have mountain resorts. Because of the influx of mountaineers to Mount Maculot during weekends, there are now five resorts operating in the said town and more than 10 resorts in nearby towns. All these resorts offer the same amenities-swimming pools and affordable lodgings. What feature of competitive markets does this demonstrate? Explain your answer.Please no written by hand and no image According to the Washington Post article The Downsides of Cheap Corn, farmers' 2014 crop revenues were down from prior years, despite very productive harvests all around the United States. Which of the statements is the explanation offered by the article for this apparent paradox? The costs of farming have increased faster than productivity, leading to higher crop yields but lower profits. An influx of farmers entering the agricultural market has led to fierce competition, driving down revenues. The increase in the supply of crops has decreased prices by a greater percentage than the percentage increase in quantity of sales. Consumer demand for agricultural crops such as corn, soybean, and wheat are at record lowsIs it fair to deem some activities virtuous and others not in an imperfect market? Please provide the source of the Information and explain in detail
- At the exact same time as the very cold winter in France wiping out most of the crop of Pinot Noir grapes in Burgundy France, Oregon wine producers faced their own challenge. A new labor agreement with their workers' union has increased wages and raised wine producers' marginal cost of producing Pinot Noir. In the graph below, click on the new equilibrium point in the market for Oregon Pinot Noir that reflects both simultaneous changes. P 0 S S p" pA Perfect Competition has [ Select ] producer(s), products are [ Select ] , it is [Select ] to enter the market, and producers in a perfect competition have [ Select ] control over prices.Only one firm able to produce profitably in a market given demand and costs describes a ____?
- 3. Price and output decisions for a monopolist II BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville. Imagine that BYOB cannot price discriminate; that is, it sells its beer at the same price per can to all customers. The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and demand (D) for beer in this market. Place the black point (plus symbol) on the graph to indicate the profit-maximising price and quantity for BYOB. If BYOB is making a profit, use the green rectangle (triangle symbols) to shade in the area representing its profit. On the other hand, if BYOB is suffering a loss, use the purple rectangle (diamond symbols) to shade in the area representing its loss. PRICE AND COST PER UNT (Dollars per can) 4.00 3.50 3.00 2.50 2.00 1.50 1.00 + 0.50 MC 0 0 ATC 2.0 MR 4 D 0.5 1.0 1.5 2.5 3.0 3.5 4.0 QUANTITY OF OUTPUT (Thousands of cans of beer) + Monopoly Outcome Profit Loss ? Imagine that BYOB…Difference between perfect market and imperfect market? The answer should be brief, concise and strong.Describe several strategies that companies can use to remain competitive in the globa economy?
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