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3 years ago

What effect might the government have on oligopolies? in oligopolies, the government might

1 answer:

4 0

In oligopolies, the government might <span>impose barriers to entry with a tariff to limit foreign competition.
By doing this, the price of products that created by foreign competitors will be higher compared to the local products which give the local companies more opportunity to win the competition in national market.</span>

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Andersen Major has five strategic business units (SBUs)—technology, fashion, food and beverage, consumer products, and electroni

Rufina [12.5K]

Answer:

Question marks

Explanation:

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4 years ago

Read 2 more answers

Perfect competition is a market in which there are _____ firms, each selling _____ product; many buyers; _____ to the entry o

Yuki888 [10]

Answer:

Many

Homogenous

There are no barriers

Have perfect knowledge

Explanation:

A perfect competition is characterised by many buyers and sellers of homogenous goods. Because there are many sellers of homogenous goods, firms are price takers.

Because there are no barriers to entry, in the long run, firms earn zero economic profit.

Because buyers and sellers have perfect knowledge of prices, price arbitrage isn't possible.

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3 years ago

Suppose that a local supermarket sells apples and oranges for 50 cents apiece, and at these prices is able to sell 100 apples an

dezoksy [38]

Answer:

e. price elasticities of demand for apples and oranges are the same over these price ranges

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Price elasticity = percentage change in quantity demanded / percentage change in price

Percentage change in price = (50-40) / 50 = 0.2 × 100 = 20%

Percentage change in quantity demanded of Apples = (120 - 100) / 100 = 0.2 × 100 =

20%

Percentage change in quantity demanded of oranges = (240 - 200) / 200 = 0.2 × 100 = 20%

Price elasticity of demand for oranges = 20% / 20% = 1

Price elasticity of demand for Apples = 20% / 20% = 1

When coefficient of elasticity is equal than one, elasticity of demand is unit elastic.

This implies that the elasticity of demand for Apples and oranges are the same. A change in the price of oranges and apples would lead to the same proportional change for each of the demand for Apples and oranges.

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3 years ago

Suppose that, in a competitive market without government regulations the equilibrium price of gasoline is $3.00 per gallon.

yKpoI14uk [10]

Answer:

price floor , binding

price ceiling binding

price floor , non binding

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price

Because firms are unable to hire workers due to the minimum wage laws., it means it is binding price floor

Equilibrium price is $3 and the maximum price is $2.70 . Thus, it is a binding price ceiling

Equilibrium price is $3 and the minimum price is $2.70 . Thus, it is a binding floor

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3 years ago

The Aztec civilization also had a school for a few select young women to become priestesses where they learned to weave and deco

Vladimir [108]

Answer:

True

Explanation:

The women become priestesses in a school, where they learned to weave an decorate costumes.

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3 years ago

What effect might the government have on​ oligopolies? in​ oligopolies, the government might

What effect might the government have on oligopolies? in oligopolies, the government might