Rank the following market structures from the highest level of competition to the lowest. (Some may not apply) Drag blocks from here Monopolistic Competition Oligopoly Oligomonopoly Monopoly Perfect Competition Drop blocks here
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- Which of the following goods or services are produced by oligopolists? Check all that apply. Cellular phone services Airline flights Haircuts Cars White socksIn the diagram below, when the competitive market is taken over by the monopolist, the monopolist is able to enjoy producer surplus in terms of the area(s)_ Dalam rajah di bawah, apabila pasaran kompetitif diambil alih oleh monopoli, monopoli dapat menikmati lebihan pengeluar sebanyak kawasan Price / Harga (P) D C B A C. E BCEH F d. BCEF Lin G QM H Qc SS = MC* MRM a. BCEH minus GFH / BCEH tolak GFH DD = P b. BCEF minus GFH / BCEF tolak GFH Output (Q)Illustrate and explain how equilibrium is determined in an olipolistic market.
- Critically evaluate and explain each statement: The monopolist has a pricing policy; the competitive producer does not.How does a monopolist in a market impact Consumer Choice and Pricing Strategies in the real world. Provide relevant examples.Discuss advantages and disadvantages of monopoly and perfect competition market structures. Would a monopolist increase society's economic welfare ?
- Name a firm of business that is selling a good or item that is not so unique. However, in the local market, it's able to enjoy monopoly power. Although it's a monopoly, you don't see other firms entering the market. Name one possible entry barrier that could be keeping other firms from entering and competing with the suggested business.Suppose a monopoly faces the market demand in the figure attached. It has a constant marginal cost equal to $6. a. Find the monopoly quantity and price. Give a numeric answer for each and show them on the graph. b. Find the perfectly competitive quantity and price assuming the market is made up of producers each with marginal cost $6. Give a numeric answer for each and show them on the graph. c. What is the efficient quantity? Give a numeric answer and show it on the graph. Which market structure, monopoly or perfect competition, comes closer to achieving the efficient quantity? d. Now suppose there is a negative externality associated with producing the good of $5 per unit. Now which market structure, monopoly or perfect competition, comes closer to achieving the efficient quantity? Explain briefly.How does the demand curve perceived by a monopolist compare with the market demandcurve? Explain