You are watching: Refer to the matrix below. price collusion is mutually profitable because each firm would achieve
fewer firms, product differentiation, some price control, and relatively easy entry however not barrier-free entry
The difference between monopolistic competition and pure monopoly is the in comparison to monopolistic competition, pure syndicate has...
economic profits. This will shift demand come the left, reducing the sector share and the economic profit
Compare the elasticity that a monopolistic competitor"s demand with that of a pure competitor and also a pure monopolist...A monopolist:A monopolistically compete firm:A perfectly competitive firm:The reference point corresponding to the long run price and also output for a monopolistically competitive certain is:Pure competition:Monopolistic competition:
-pure monopolist"s -monopolistic competitor"s -pure competitor"s-D3-D2-D1-Point BP=MCEfficientP=minimum ATCEfficientP>MCinefficientPEfficient
may be desired by consumers, offering them syndicate power; however, consumer will look for substitutes if the price is too high, making them competitive
"Competition in quality and service might be simply as effective as price competition in providing buyers much more for your money"...
if consumers value quality and also service an ext than a lower priceprice competition can lead come lower economic profit or also loss
Which of the adhering to are products or solutions of oligopolists that you regularly purchase or own?...
interdependent due to the fact that their profits depend not just on their very own price, but likewise on the various other firm"s price
Using the payoff matrix, and assuming no collusion in between X and Y, what is the most likely pricing outcome?...
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Refer come the procession below. Price collusion is mutually profitable because each firm would achieve...There might be a temptation...