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2 years ago

Difference between monopoly and perfectly competitive market structure

Business

1 answer:

zmey [24]2 years ago

5 0

Answer:

see below

Explanation:

1. In a monopoly, one firm dominates a large market. Only one seller is serving a large number of buyers. In a perfectly competitive market structure, many sellers are competing to sell to many buyers.

2. A monopoly has no competition for its products. There are no close substitutes, which leaves customers with no other option but to buy from the monopoly. In perfect competition, sellers sell identical products. There is stiff competition for the product being sold.

3. In a monopoly, there are strong barriers to entry and exit from the market. In a perfectly competitive market, restrictions on entry or exit are absent.

4. The price for a monopoly is always set above the average cost, while in perfect competition, the price set is equal to the marginal cost.

5. A monopoly has full control over its price and can offer different prices to different groups of customers. In a perfects competition, the firms cannot practice price discrimination because they have no control over prices.

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1 year ago

Peter Parker, CEO at Spdey Enterprises, finds his profits at $8,000,000 inadequate for his Web-Slinger business. His production

Lady bird [3.3K]

Answer:

Spdey Enterprises

The percentage improvement in Sales to achieve the desired profit is:

c. 42.86% increase in sales.

Explanation:

a) Data and Calculations:

Normal profit level = $8 million

Expected profit level = $14 million

Normal Expected

Sales per year $40,000,000 $57,142,857

Cost of purchases 16,000,000 22,857,143

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Fixed costs 6,000,000 6,000,000

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3 years ago

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Answer:

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3 years ago

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it is b i thinkk

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3 years ago

Difference between monopoly and perfectly competitive market structure ​

Difference between monopoly and perfectly competitive market structure