Which of the following items apply to monopolistic competition (choose 3)?

Answers

Answer 1

The three characteristics typically associated with monopolistic competition are:
a) Many sellers offering differentiated products
c) Barriers to entry and exit
e) Price-setting power for individual firms.

Monopolistic competition is characterized by the following three key features:

a) Many sellers offering differentiated products: In monopolistic competition, there are numerous sellers in the market, each offering products that are differentiated in terms of quality, branding, or other attributes. This product differentiation allows firms to have some control over pricing and market positioning.c) Barriers to entry and exit: Monopolistic competition typically involves relatively low barriers to entry, meaning new firms can enter the market easily. However, there might still be some barriers such as brand loyalty, advertising costs, or economies of scale that make it challenging for firms to enter or exit the market quickly.e) Price-setting power for individual firms: Firms in monopolistic competition have some degree of price-setting power. Due to product differentiation, each firm has the ability to influence its price based on factors like brand image, perceived quality, and competition in the market. However, this power is limited as there are close substitutes available from other firms.

These characteristics distinguish monopolistic competition from other market structures like perfect competition (where products are homogeneous) or monopoly (where there is a single seller with significant market power).
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The complete question may be like:

Which of the following characteristics are typically associated with monopolistic competition? Choose three.

a) Many sellers offering differentiated products

b) Perfectly elastic demand curve

c) Barriers to entry and exit

d) Homogeneous products

e) Price-setting power for individual firms

f) High degree of market concentration

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1. List two ways that the FAFSA4caster can help students and their families plan for college.

1. Determine what schools are affordable for you that you should apply to.

2. Make adjustments to your financial situation that allow you to qualify for more federal student aid.

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2. Merit-based scholarships that you have been awarded by the institution. You do not need to repay merit scholarships.

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5. How can you position yourself to receive as many scholarship offers as possible?

1. Treat scholarship applications like a job Finding and applying for scholarships can be time-consuming.2. The more involved, the less competition.3. Look for local scholarships.4. Find scholarships that fit your unique personality.

Which of the following items apply to oligopoly (choose 3)?
Group of answer choices

differentiated and/or identical products

firms are price takers

no barriers to entering the market

firms are price setters

some barriers to entering the market

firms are price searchers

high barriers to entering the market

Answers

The correct answers are D, E and F. In a perfect competition system, identical products are offered, there are no barriers to entering the market, and firms are price takers.

The three items that apply to oligopoly are:

1. Differentiated and/or identical products

2. Firms are price setters

3. Some barriers to entering the market.

Explanation:

Oligopoly is a market structure where a few large firms dominate the market. The following are the characteristics of an oligopoly market structure:

1. Differentiated and/or identical products: The products sold by the firms may be either differentiated or identical. Firms may produce similar products but try to differentiate them through marketing strategies or unique features.

2. Firms are price setters: Oligopoly firms have a significant market share and hence can influence the market price. Firms in oligopolies often engage in price wars, which can lead to instability in the market.

3. Some barriers to entering the market: Oligopoly markets have some barriers to entering the market, which makes it difficult for new firms to enter the market. These barriers can be in the form of economies of scale, high fixed costs, government regulations, or patents.

Therefore, the items that apply to oligopoly are differentiated and/or identical products, firms are price setters, and some barriers to entering the market.

Which of the following items apply to monopoly (choose 2)? HELP NOW PLS

firms are price setters

some barriers to entering the market

high barriers to entering the market

firms are price searchers

firms are price takers

no barriers to entering the market

Answers

The options of the items that apply to a monopoly:

Firms are price settersHigh barriers to entering the market

What is the monopoly?

One company has control of a market in a monopoly. This means that company gets to choose the prices of its products all by itself. If no other companies are competing, one company can choose how much they want to charge for their product.

So, It's hard for new companies to start competing with a monopoly because there are big obstacles to getting into the market. These obstacles can be things like laws, trademarks, buying things in bulk, etc.

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