List the level of price control in each market type in descending

Question # 00354947 Posted By: dr.tony Updated on: 08/06/2016 04:32 AM Due on: 08/06/2016
Subject Economics Topic General Economics Tutorials:
Question
Dot Image

answer the question below using as much detail as possible so I can understand how it works. I will appreciate it a lot.


Examine pure competition, oligopolies, and monopolies from both the perspective of an entrepreneur as well as a consumer and answer the questions below:

  1. *List the level of price control in each market type in descending order (largest to smallest). Please include in your explanation the factors that give the firms in the market much or little control of price.
  2. *List ease of entry for new firms, in each market type, in descending order (hardest to easiest). Please include in your explanation the factors that limit or allow firms to enter the industry in each market type.
  3. *As an entrepreneur, typically, which market would you prefer in the long-run? Explain your answer.
  4. *As a consumer, typically, which market would you prefer? Explain your answer.
  5. *What is the long-run economic profit of a competitive firm? What happens if a competitive firm has an economic profit in the short-term?
  6. *Please explain how product differentiation might impact (or have no impact) on the profit of the firms in each market type.
Dot Image
Tutorials for this Question
  1. Tutorial # 00350585 Posted By: dr.tony Posted on: 08/06/2016 04:33 AM
    Puchased By: 3
    Tutorial Preview
    The solution of List the level of price control in each market type in descending...
    Attachments
    List_the_level_of_price_control_in_each_market_type_in_descending.ZIP (18.96 KB)
    Recent Feedback
    Rated By Feedback Comments Rated On
    s...lo Rating Best resources and unique content 09/06/2016

Great! We have found the solution of this question!

Whatsapp Lisa