All categories

3 years ago

Which of the following best states the main difference between a monopoly and an oligopoly?

Business

1 answer:

MrMuchimi3 years ago

8 0

Answer:

C:Oligopolies involve more than one company while monopolies involve only one.

Explanation:

A monopoly is a market structure with one supplier serving a very large market. In a monopoly, a single firm sells to many buyers. The product or service offered by a monopoly has no close substitutes. Customers have no choice but to buy from the only firm providing the product or service. Monopolies may result from government policy or very restrictive barriers of entry.

An oligopoly is a market structure where very few firms dominated the market . It when four or five firms control the majority market share of a very large market. There could be other firms with very little market share. Firms in an oligopoly market may sell homogeneous or differentiated products. The few firms dominating the industry collaborate to profit from the market.

You might be interested in

The relationship between the interactive communication capabilities of the internet and customization is that

tangare [24]

The relationship between the interactive communication capabilities of the Internet and customization is a highly interactive and individualized information and exchange environment is created for shoppers and buyers.

8 0

3 years ago

People enjoy outdoor holiday lighting displays and would be willing to pay to see these displays but can't be made to pay. Becau

Katarina [22]

Answer: (2) Demand-side market failure

Explanation:

The demand side market failure is one of the type of market effect that basically occur due to the production of the negative response and the effect by the various types of marketing techniques like surveys and the focus groups.

The market failure demand side is one of the type of economical situation in which the customers are willing to pay for the specific products and the services in the market which is not fully capture.

According to the given question, the demand- side market failure is one of the example that best illustrating the given situation. Therefore, Option (2) is correct answer.

8 0

3 years ago

Hector works as an office assistant for a small, five-person software development start-up. Since it is a relatively new company

gladu [14]

Answer:

The correct answer is letter "A": emotion-focused cognitive coping.

Explanation:

Emotion-focused cognitive coping is a practice by which individuals relieve stressful situations by looking at the bright side of the problem. emotion-focused cognitive coping can be positive when the stressors relievers result in beneficial activities for the individuals (journalizing emotions) or negative when they affect the individuals' lifestyle (drug or alcohol abuse).

7 0

3 years ago

A new labor-saving technology will likely result in..... Group of answer choices Lower wage share of output and lower Gini coeff

jekas [21]

Answer:

Higher unemployment, lower wage share of output, and higher Gini coefficient in the long run.

Explanation:

Since less labor will be used, total unemployment will increase. Besides less labor being used, more capital will be used, so the share of labor in total output will decrease. Labor efficiency increases, since you need less labor to produce the same or even a larger amount of output.

New technologies tend to increase the wages of high skilled labor and management. Since the Gini coefficient measures income inequality, then higher wages for a few will increase inequality.

This is an example of what is happening in the US, where highly trained labor is getting paid better every time while unskilled labor is getting paid the same as many years ago or their wage has even decreased with time. This shows how important a college education is, and the difference will only keep increasing.

7 0

3 years ago

limited government licenses that create a monopoly do so because part 2 a. the license grants a marginal cost advantage. b. the

sammy [17]

Limited government licenses that create a monopoly do so because the license is an entry barrier.

Hence, option C is correct.

What do you mean by monopoly in economics?

Monopoly can be defined as a situation where there is a dominance of a single seller in the market. It is opposite to the concept of perfect competition. An unregulated monopoly possesses market power and can influence prices in the overall sector.

The main features revolves around

Only One Seller and Various Buyers.
No Produce Replacement Option
Very Difficult to Enter in Market.
Pricing Control.
Government Driven.
Natural Monopoly.

There are usually three types of monopoly

Natural Monopolies.
State Monopolies.
Un-natural Monopolies.

To know more about monopoly from the given link

brainly.com/question/28841635

#SPJ4

3 0

1 year ago