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3 years ago

What does the basic difference between pure competition and monopolies involve

2 answers:

7 0

Pure competition may push you to work harder towards your business sense you have competition in a monopoly you own basically 99 percent of that industry that’s a huge difference

Leno4ka [110]3 years ago

3 0

Answer: In pure competition, the price of the product is equal to the marginal cost, while in the monopoly the price of the product is above the marginal cost

Explanation: Pure competition, or even as it is called perfect competition, implies that there are more producers on the market that produce the same product under the same conditions, there are no privileges in terms of some benefits, subsidies that are valid for someone and not for the others, are all equal in the opportunities. Products by all manufacturers must be identical in quality and all other parameters, and the prices of products of all manufacturers are the same, so that one producer has no advantage over others. Under such conditions, the prices of products are determined according to the law of demand, i.e. according to how many customers are willing to pay. Also, the price of goods and the quantity of goods is fixed, it does not change.

In contrast, the monopolist is the only producer on the market and he can, in his own way, form the price and all the other parameters, since there is no competition.

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What made the Navajo Code Talkers so important to the U.S. war effort in the Pacific?

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Their language was so different and it could not be deciphered by the enemies because there was no way of understanding it.

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3 years ago

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Which country most influence the development and legacy of the traditional American cowboy

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Cowboys originated in Mexico.

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4 years ago

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How do the humanistic, cognitive, and sociocultural approaches to psychology complement, or complete, each other?

tangare [24]

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2 years ago

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posledela

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3 years ago

Imagine you are a peasant in the Middle Ages, required to provide food to the knights and nobles. In 350–400 words, describe wha

DENIUS [597]

In the morning with the first rays of the sun, the peasant woke up in his small house, which was in a small village consisting of 11 courtyards. A big friendly peasant family gathered at breakfast: A peasant with his wife, 4 daughters and 6 sons. Having prayed, they sat down for wooden benches. At breakfast, there were grains cooked in a pot, on a home hearth. After breakfast peasant should work to provide food to the knights and nobles.

Almost all the children of the peasant have already worked as adults. Only the youngest son, who barely passed 5 years, could only graze geese. The harvest was in full swing. All day peasant with his family worked in the field, making only one break for lunch. In the evening they came home very weary. After supper, the peasant helps his wife in feeding the pigs and milking the cow. After that, the peasant began to make barrels for water. After sunset, everyone went to bed. Mother and father on a wide wooden bed, children on benches at walls which have covered with hay. Tomorrow morning the peasant with his family was going to getting up early again and working hard again...

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3 years ago