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2 years ago

name two different market structures describe how and why they each have a different competitive situation

2 answers:

8 0

Perfect Competition- many firms, freedom of entry, homogeneous product, normal profit
Monopoly- One firm dominates the market, barriers to entry, possibly supernormal profit.

Mkey [24]2 years ago

3 0

Economists suppose that there are various buyers and sellers in the marketplace which means that competition is everywhere in the market which in turn allowed price to change in reaction to changes in supply and demand. In Economics, there are some market structures that describes how each structure compete in a different competitive situation. Monopoly is one. Monopoly is one of the market structures whereby there is one producer or seller which means, the industry is the single business. This market structure prohibits others from joining the market when a company has a patent or copyright. Oligopoly is another market structure where there are chosen few firms that make up an industry. Both market structures have high barrier entries where competing markets for share are interdependent as the consequence of market forces.

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Read 2 more answers

The Tuck Shop began the current month with inventory costing $10,000, then purchased inventory at a cost of $35,000. The perpetu

GREYUIT [131]

Answer:

$500 shrinkage

Explanation:

Calculation to determine the amount of shrinkage occurred during the month

Using this formula

Shrinkage=Ending inventory-Actual count

Let plug in the formula

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2 years ago

A property is assessed at $64,410. the county tax rate is 8.9 mills per dollar. what would the monthly payment for taxes be to t

Marta_Voda [28]

The monthly payment for taxes be to the escrow account to $48

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<h3>What is property?</h3>

Anything over which a person or a company has legal ownership is considered property. Property can refer to both real objects, like homes, automobiles, or appliances, as well as intangible items with the potential for future value, like stock and bond certificates.

Corporeal property and incorporeal property are the two primary forms of property. Corporeal Property is visible and tangible, but incorporeal Property is not. Additionally, corporeal property refers to the ownership of tangible objects, whereas incorporeal property refers to an intangible right in real estate.

To learn more about property visit:

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1 year ago