Jxrnl - knowledge is power

Market Structures

%

My Stats

Current Streak / 5

Tokens

Lifetime Tokens

Accuracy %

User ID

Home

Quest

Answered

Saved

Hot Topics

Following

Followers

Post

Create

Promote

1

Comments

Money

Account

Please select a topic from the list.

Out of Tokens! Answer 5 in a row to earn more tokens

Water Resource Management

Water Resource Management

Pollution

Pollution

Medical Devices

Medical Devices

Naval Warfare

Naval Warfare

Middle Eastern and African History

Middle Eastern and African History

Middle Eastern Cities

Middle Eastern Cities

Nuclear Energy and Defense

Nuclear Energy and Defense

Public Health

Public Health

Microcontroller Platforms

Microcontroller Platforms

Space Telescopes

Space Telescopes

Cooking Fats

Cooking Fats

Ancient Egyptian Religion

Ancient Egyptian Religion

Painting

Painting

International Trade

International Trade

Inheritance Law

Inheritance Law

Marine Mammals

Marine Mammals

Hospitality Management

Hospitality Management

Television

Television

Marketing Strategies

Marketing Strategies

Pre-Raphaelite Movement

Pre-Raphaelite Movement

Agriculture and Climate

Agriculture and Climate

Judicial Process

Judicial Process

Military Technology

Military Technology

Physical Geography

Physical Geography

Antarctic Regions

Antarctic Regions

Food Safety

Food Safety

American Culture

American Culture

Internet Communication

Internet Communication

American Football

American Football

Ancient Jewish History

Ancient Jewish History

Steeeve

Steeeve is an IT guru

Followers: 4

Lifetime Tokens: 108

Market Structures Kinked Demand Curve

Price wars avoided by a kink in demand, not just competition

0

Why does the kinked demand curve lead to price stability in oligopolistic markets?

Because firms always collude to keep prices fixed regardless of demand changes. Because prices fluctuate freely as firms compete aggressively in oligopolies. Because firms expect competitors to not follow price increases but to match price decreases, creating asymmetric demand elasticity.

Steeeve

Steeeve is an IT guru

Followers: 4

Lifetime Tokens: 108

Market Structures Market Power

When firms become price makers, the invisible hand sometimes turns into a heavy hand

0

What primarily determines a firm's ability to exercise market power in setting prices above marginal cost?

The firm's total production capacity regardless of demand The firm's ability to perfectly predict competitors' prices The elasticity of the residual demand curve the firm faces

Bb115

Books and cars

Followers: 7

Lifetime Tokens: 0

Market Structures State-Owned Monopoly

Government control can create monopolies that reshape entire markets without competition

0

What is a key trade-off of a state-owned monopoly compared to competitive markets?

Guaranteed higher profits for private shareholders Reduced incentives for efficiency and innovation due to lack of competition Increased competition leading to lower prices

Steve0000

Followers: 0

Lifetime Tokens: 0

Market Structures Oligopoly

Oligopolies shape markets where a few firms control pricing and competition dynamics

0

How does the interdependence of firms in an oligopoly affect their pricing strategies?

Firms consider the potential reactions of competitors before changing prices, often leading to price stability. Firms independently set prices without regard to competitors, leading to frequent price changes. Firms always collude openly to fix prices at the highest possible level.

Comments

Loading....

5

Streak Win!

Game Over

JXRNL: knowledge is power