Which of the following is not a barrier to entry in an industry? Select one: a. Profit maximization O b. Strategic pricing c. Government licensing d. Economies of scale
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- NoneImagine that in a certain industry (choose any) monopolistic competition is replaced by monopoly. a. As a result of what can this happen? Describe a possible scenario. b. Using demand, marginal cost, and marginal revenue graphs, show how this decrease in competition will change market prices. Make appropriate comments on the graphs, paying special attention to the direction of changes. c. Describe what changes may occur in the methods of competition if the firm becomes a monopolya. How is monopolistic competition like monopoly, perfect competition andoligopoly? b. Give two examples of price discrimination. In each case, explain why themonopolist chooses to follow this business strategy (answer b)c. Why does price equal marginal revenue for the perfectly competitive firm?What is the relationship to the demand curve for the firm?
- O A. monopolistic competition O B. oligopoly OC. pure monopoly O D. pure competition QUESTION 10 The following is cost information for the Creamy Crisp Donut Company: Entrepreneur's potential earnings as a salaried worker = $50,000 Annual lease on building = $22,000 Annual revenue from operations = $380,000 Payments to workers = $120,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Refer to the data. 1- What is the Creamy Crisp's explicit costs are? 2- What is the Creamy Crisp's accounting profit ? 3- What is the Creamy Crisp's economic profit? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIU Paragraph Arial 14px Click Save and Submit to save and submit. Click Save All Answers to save all answers. TOSHIBA !! !!!The largest firms account for the bulk of the industry's output. Select one: a. Monopoly O b. Oligopoly O c. Pure Competition O d. Monopolistically CompetitionPLS HELP! MARKET STRUCTURE
- It is one of the barriers to entry when average cost continually decreases with output, implying that a single firm achieves the lowest possible unit cost by supplying the entire market. a. economies of scale b. control or resources c. strategic barriers d. pure quality and cost advantagesa. b. C. d. Price panel a panel b panel c panel di Price (a) (c) MA MC MR ATC Quantity MC ATC D Quantity Price Price (b) MR (d) MC Quantity MC مما ATC Refer to Figure 3. Assume a monopolistic competitive environment: From the 4 graphs depicted, which one of them represents a short-run equilibrium that encourages the entry of other firms? ATC Quantity DGive two characteristics of the following:a. a perfectly competitive marketb. a monopolistic market
- What is the main difference between a perfectly competitive industry and a monopolistically competitive industry? Select one: a. zero economic profit expected in the long run b. the number of firms in the market c. no barriers to entry d. product differentiation1. Predict the effect higher margins for your products would have on your competitors.1. Under the model of monopolistic competition, a(an) ________ in the number of firms in the industry will cause ________ to ________. 2. In the model of monopolistic competition, if the price is ______ than average costs, then firms are earning __________ economic profit and we should expect firms to _________ the industry. 3. In the model of monopolistic competition, if an industry has large ________ relative to another industry, then we should expect _________ firms to operate in a long-run equilibrium of that industry.