Tuesday, November 25, 2014

Chapter 14 Questions

1. What are the four market structures?
2. What market structures are easy to enter?
3. What market structure has unique products?
4. What market structure is entry blocked?
5. What market structure would you find cucumbers?
6. What market structure are cell phones?
7. What market structure is Saudi Electric Company?
8. What does the demand curve look like in Perfect Competition?
9. Does the price change was quantity changes in perfect competition?
10. Where are profits maximized in perfect competition?
11. How do you calculate profits under perfect competition?


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3 comments:

  1. Madawi AlsaudNovember 25, 2014 at 9:41 PM

    1. What are the four market structures?
    a. Perfect competition
    b. Monopoly
    c. Monopolistic Competition Brand
    d. Oligopoly

    2. What market structures are easy to enter?
    Perfect competition and Monopolistic competition brand

    3. What market structure has unique products?
    Monopoly


    4. What market structure is entry blocked?
    Monopoly

    5.What market structure would you find cucumbers?
    Perfect competition

    6.What market structure are cell phones?
    Oligopoly

    7. What market structure is Saudi Electric Company?
    Monopoly

    8. What does the demand curve look like in Perfect Competition?
    It is flat or perfectly elastic

    9. Does the price change was quantity changes in perfect competition?
    No

    10. Where are profits maximized in perfect competition?
    The profit maximization point is when MC intersects with MR

    11. How do you calculate profits under perfect competition?
    Profit = TR – TC or (P-ATC) x Q

    -Madawi

    ReplyDelete
  2. Noura BinkhathlanNovember 26, 2014 at 12:06 AM

    1. What are the four market structures?
    1-Perfect Competition
    2-Monopoly
    3-Monopolistic Competition Brand
    4- Oligopoly

    2. What market structures are easy to enter?
    Perfect Competition

    3. What market structure has unique products?
    Monopoly

    4. What market structure is entry blocked?
    Monopoly

    5. What market structure would you find cucumbers?
    Perfect Competition

    6. What market structure are cell phones?
    Monopolistic Competition Brand

    7. What market structure is Saudi Electric Company?
    Monopoly

    8. What does the demand curve look like in Perfect Competition?
    the demand curve in Perfect Competition is flat (horizontal)or perfectly elastic

    9. Does the price change was quantity changes in perfect competition?
    No

    10. Where are profits maximized in perfect competition?
    when (Marginal Revenue = Marginal Cost) then the profits is maximised

    11. How do you calculate profits under perfect competition?
    Profit = Total Revenue – Total Cost

    Noura

    ReplyDelete
  3. jazba mahmoodNovember 28, 2014 at 11:11 PM

    1. Four Market Structures.
    a-Perfect Competition
    b-Monopoly
    c-Monopolistic Competition Brand
    d- Oligopoly
    2. Perfect competition and Monopolistic competition brand
    3. Monopoly
    4.Monopoly
    5. Perfect Competition
    6. Oligopoly
    7. Monopoly
    8. The demand curve in perfect competition is flat or perfectly elastic
    9. No
    10. when (MR = MC) then the profits is maximised
    11.Profit = TR – TC

    ReplyDelete

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