The four-firm concentration ratio for the national industry does not capture the effects of all of the following except Multiple Choice localized markets when transportation costs are high O interindustry competition import competition when there is world trade market coverage of the four largest fems

The four-firm concentration ratio for the national industry does not capture the effects of all of the following except Multiple Choice localized markets when transportation costs are high O interindustry competition import competition when there is world trade market coverage of the four largest fems

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter9: Monopoly

Section: Chapter Questions

Problem 1QFR

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The four-firm concentration ratio for the industry described in this table is
True/False In monopoly there are high barriers to enter the market.
Consider a type of product whose market structure is monopolistic competition. In the shift from no trade in this type of product to free trade Multiple Choice a country will export the product only if the world price is higher than the country's no-trade price. the number of varieties or models of this type of product available to consumers will increase. factor prices in a country will change by large amounts If most of the country's trade in this type of product is Intra-Industry trade. the extra demand from foreign buyers for this type of product will increase the product price.
Assume an oligopolist confronts two possible demand curves for its own output, as illustrated below. The first (A) prevails if other oligopolists don't match price changes. The second (B) prevails if rivals do match price changes. Price (dollars per unit) 19- 17 Demand B 15- Demand A 13- 11. 8 10 12 14 16 18 20 Quantity (units per period) (a) By how much does quantity demanded increase if price is reduced from $11 to $9 and Instructions: Enter your responses rounded to the nearest whole number. (i) Rivals match the price cut? (ii) Rivals don't match the price cut? (b) By how much does quantity demanded decrease when price is raised from $11 to $15 and Instructions: Enter your responses rounded to the nearest whole number (do not include negative signs). (i) Rivals match the price hike? (ii) Rivals don't match the price hike?
Sport facilities sell tickets according to a seating map. At the Roger Centre, Blue Jays fans can see their Blue Jays for as high as $126 in the VIP area and as low as $17.50 in the 500 level. Provide the economic rationale and conditions for the price strategy at these sport facilities. Evaluate critically the following statement: “Price discrimination by a monopolist can increase welfare.” Use any of the market structure models to describe the COVID-19 vaccine manufacturing industry. Make sure you justify your answers.
What do we mean by monopolistics competition ? Why do we use this model to examine intra-industry trade
Based on the best available econometric estimates, the market elasticity of demand for your firm's product is -2. The marginal cost of producing the product is constant at $150, while average total cost at current production levels is $225. Determine your optimal per unit price if: a. you are a monopolist b. you compete against one other firm in a Cournot oligopoly c. you compete against 19 other firms in a Cournot oligopoly
Explain why a high market concentration measurement does not necessarily suggest abuse of market power. 10.3 Review the following Economist report on Deregulation and Competition
what are some policies that were placed on retail industries during covid-19
None
The four-firm concentration ratios for industries X and Y are 81 percent and 74 percent, respectively, while the corresponding Herfindahl-Hirschman indexes are 3,100 and 1,600. The Dansby-Willig performance index for industry X is 0.7, while that for industry Y is 0.55. Based on this information, which would lead to the greater increase in social welfare: a slight increase in industry X’s output or a slight increase in industry Y’s output?
How do we measure a four-firm concentration ratio? What does a high measure mean about the extent of competition?