Answer:
1. not a competitive market
2. not a competitive market
3. competitive market
4. not a perfectly competitive market
Explanation:
To answer this question, i will first start by explaining what a competitive market is and the assumption of a perfectly competitive market as well
A competitive market is a market that has many producers and buyers of a particular product. The producers are usually in a competition to meet up with the needs of the buyers.
some assumptions of the market:
- large sellers/producers
- identical or homogenous goods
- free entry
- no discrimination
- perfect knowledge
a. in this question this is not a competitive market. the reason is simple. It says that there are only two providers of internet. So there are no enough producers or sellers
b. The government has limited entry into this market by giving patent to only one pharmaceutical company.
c. yes this market is competitive since there are many producers of the product and the consumers regard the products as identical or homogenous. this meets with all of the assumptions of a perfectly competitive market.
d. the product here is not homogenous or identical as this is not a perfectly competitive market since buyers would prefer to buy the coffee that tastes better and leave that of the competitors
thank!
Democratic Leadership or perhaps Meritocracy
Answer: d. choose the price at which it sells its butter.
Explanation:
In a competitive market, the individual sellers do not choose a price to sell at but rather the market does. This is due to the high number of sellers in the market so individual sellers do not have bargaining power.
The price will therefore equal the firm's marginal revenue as well as Average revenue.
A monopolist maximizes profits at the output at which marginal revenue equals marginal cost.
<h3>Who is a monopolist?</h3>
It should be noted that a monopolist simply means an individual that controls the sale of a particular good in the market.
In this case, a monopolist maximizes profits at the output at which marginal revenue equals marginal cost.
Learn more about monopolist on:
brainly.com/question/13113415
#SPJ1
The correct answer to this open question is the following.
A company is more likely to adjust its business strategy to accomplish its goals and follow its mission.
The Mission of the company is permanent, which means it does not change every determined month or a couple of years. It can be modified after many years. But the Mission is established as the purpose of the company. That is why the organization has to permanently adjust its business strategy in order to fulfill the mission and accomplish its goals.
