Question Details

[answered] 1. Why is it that there is only a small number of businesse


There are 10 questions to answer fully and completely in the attached document.


1. Why is it that there is only a small number of businesses in the

 

oligopoly industry only? Like 2-3 car makers in US, three large cereal

 

makers (just a handful that control 80-90% of the market share).

 

2. Can Monopolistic Competition industries become Oligopolies? Where

 

one or two firms dominate the industry. Is it happening already in

 

some industries? Give examples.

 

3. How does the oligopoly decide the price, how much to sell and how

 

they will make a profit? Give examples of how and why they do it that

 

way.

 

4. Identify the following firms in the one of the four industries studied

 

(monopoly, perfect competition, monopolistic competition or

 

Oligopoly): wheat farmer, Starbucks Coffee, Coors, U.S. Post Office,

 

Dentist office, Ford and Ontario Honda Car dealership. Explain why

 

you classify them in each of the categories that you do. Explain in

 

each case.

 

5. Why would oligopoly be good for consumers? In what ways are the

 

consumers helped in the process? Explain fully.

 

6. What does the kinked demand curve tell us about competition and

 

does it help the consumer in any way? Explain fully and completely.

 

7. How is the oligopoly different than a monopoly? Which is the better of

 

the two cases and explain why.

 

8. What is the shape of the Monopoly's demand curve? How does a

 

monopoly make decisions about (1) price, (2) quantity sold and (3)

 

profit?

 

9. Why is a cartel like the OPEC so hard to maintain? What is the benefit

 

to stay within the cartel for the members and what is the

 

cost/problems with staying within the cartel?

 

10.

 

Which of the four industries that we studied in the two modules

 

is the best for the consumers, rank them 1 through 4 (4 = best for

 

consumers and 1 = worst for consumers). What can the government

 

do make the situation better for consumers?

 


Solution details:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 18, 2020

PRICE: $15

Solution~0001001532.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 18, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.

Order Now