Questions on Oligopoly - 19013 Words

Chapter 16 Oligopoly MULTIPLE CHOICE 1. Markets with only a few sellers, each offering a product similar or identical to the others, are typically referred to as a. competitive markets. b. monopoly markets. c. monopolistically competitive markets. d. oligopoly markets. ANSWER: d. oligopoly markets. TYPE: M DIFFICULTY: 1 SECTION: 16.1 2. An oligopoly is a market in which a. there are only a few sellers, each offering a product similar or identical to the others. b. firms are price takers. c. the actions of one seller in the market have no impact on the other sellers’ profits. d. All of the above are correct. ANSWER: a. there are only a few sellers, each offering a†¦show more content†¦TYPE: M DIFFICULTY: 2 SECTION: 16.1 11. One key difference between an oligopoly market and a competitive market is that oligopolistic firms a. are price takers while competitive firms are not. b. are interdependent while competitive firms are not. c. sell completely unrelated products while competitive firms do not. d. sell their product at a price equal to marginal cost while competitive firms do not. ANSWER: b. are interdependent while competitive firms are not. TYPE: M DIFFICULTY: 2 SECTION: 16.1 12. Typical firms in our economy are classified as a. perfectly competitive. b. imperfectly competitive. c. duopolists. d. oligopolists. ANSWER: b. imperfectly competitive. TYPE: M DIFFICULTY: 1 SECTION: 16.1 13. Given that there are approximately 12 companies currently selling cars in the United States, the car market is classified as a. perfectly competitive. b. monopolistically competitive. c. oligopolistic. d. the classification is open to debate. ANSWER: d. the classification is open to debate. TYPE: M DIFFICULTY: 2 SECTION: 16.1 14. When an industry has many firms, the industry is a. an oligopoly if the firms sell differentiated products; it is monopolistically competitive if the firms sell identical products. b. an oligopoly if the firms sell differentiated products; it is perfectlyShow MoreRelatedQuestions On Asian Grocery Stores1484 Words   |  6 Pagesstructure interests me the most in microeconomics in the course of IB Economics. Based on my observations of the grocery stores and knowledge of the market structure, the question is raised, â€Å"to what extent does Asian grocery stores operate in an oligopolistic market in the region of Chinatown of Victoria?† To investigate this question, both primary and secondary research must be conducted. For primary research, observations and investigations of the behaviours of grocery sellers will be done in theRead MorePlease Read Chapter 10 and Answer the Following Questions:1211 Words   |  5 PagesPlease read chapter 10 and answer the following questions: 1.  (Varieties of Oligopolies)  do the firms in an oligopoly act independently or interdependently? Explain your answer. 2.  (Price Leadership) why might a price–leadership model of oligopoly not be an effective means of collusion in an oligopoly? * Price leadership practices violate US anti-trust laws. * The more differentiated the product is, the less effective price leadership is as a means of collusion. * There is no guaranteeRead More The Main Categories of Market Structures Essay1668 Words   |  7 Pagesthat exists between the firms within the industry, i.e. the theory of Alternative Market Structures. This essay based on three questions divides into 3 parts to explain and evaluate the questions. This essay (PART A) outlines the main categories of market structures, and shows the theoretical features of two of them, i.e. Perfect Competition and Oligopoly. This essay (PART B) evaluates upon the most relevant structure in regard to the UK supermarket industry. This essay (PART C)Read MoreCompetition : Perfect Competition Is An Economic Concept Essay1157 Words   |  5 Pages Question 7 Perfect competition: Perfect competition is an economic concept, there are lots of seller’s sells homogeneous products in the market and there are many buyers. There are no barriers to enter into the market. Furthermore both the buyers and sellers have good information regarding price so that sellers can offer a competitive price to the buyers and also buyers can compare the price to have the best choice. Monopolistic competition: Monopolistic competition is market structure in whichRead MoreMonopoly Is A Market Structure1285 Words   |  6 Pagesof competition, which means the consumer surplus may be minimized. This market structure will not be a part of a fair income distribution of our society. Oligopoly usually exists where few large firms producing a homogeneous or differentiated product dominate a market. A few examples are automobile and gasoline industries. To think of oligopoly â€Å"of circumstances in which this is not a sensible assumption. In particular, where a small number of large firms dominates a particular industry producingRead MoreAntitrust Investigation On The Anti Monopoly Law868 Words   |  4 Pagescontents of this article applies to certain aspects of economics by responding to the following questions: 1. Why were these specific companies considered for antitrust behavior investigations? 2. What are some pecuniary and no pecuniary costs related to the antitrust behavior? 3. Do monopolies and oligopolies always reflect negatively on society? 4. What is an example that shows how monopolies and oligopolies can benefit society? Investigation and Costs Chinese consumers were complaining about beingRead MoreIt Has Been Argued That the Uk Banking System Is an Oligopoly1729 Words   |  7 PagesQuestion 1 It has been argued that the UK banking system is an oligopoly ( http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8266582/Big-banks-running-an-oligopoly-says-Virgin-Money-chief.html# ) . a) Using appropriate diagrams and economic research critically discuss the extent to which this is the case b) What are the likely implications for consumers? + http://economicsonline.co.uk/Business_economics/Oligopoly.html The UK banking system is an Oligopoly becauseRead MoreA Note On Trust Issues933 Words   |  4 Pages2014, p. 14). The contents of this article applies to certain aspects of economics by responding to the following questions: 1. Why were the firms investigated for antitrust behavior? 2. What are some of the costs (pecuniary and nonpecuniary) associated with the antitrust behavior? 3. Are monopolies and oligopolies always bad for society? 4. What is an example of monopoly or oligopoly being beneficial for society? Investigation and Costs Complaints from Chinese consumers saying they were gettingRead MoreMarket Strategy Case Study: Katrinas Candies1665 Words   |  7 Pagesproducing market. Please respond to the following questions. a.) What market structures will Katrina’s Candies operate if the above condition prevails?  I think Katrinas Candies would be successful operating in an Oligopolistic Structure. Oligopoly is a market structure characterized by a small number of relatively large firms that dominate an industry. The market can be dominated by as few as two firms or as many as twenty, and still be considered oligopoly. With fewer than two firms, the industry isRead MoreWhat Model Of Market Structure1455 Words   |  6 Pagescan produce accurate predictions. A prediction market provides a vivid illustration of the power of the wisdom of crowds. (Qiu, L., Rui, H., Whinston, A. B., 2014) This outline will break down the various market structures and will clarify all questions pertaining to the business in the city. The business will have to determine what model of market structure they will decide to use. All market structures have their own characteristics the first on the list is Perfect Competition. It describes a

A Professional Teacher Is Not An Easy Task Essay - 1310 Words

I love to chose professionalism because I would like to become a professional teacher in the future. Every teacher thinks that they want to become a good and professional teacher, but about being a professional teacher is there any lore? Is there any particular qualities for becoming a good teacher? And how to become a rectitude teacher?To become a professional teacher is not an easy task. Professional teaching is the combination of experience, knowledge, lot of preparation and commitment. The person who wants to become a professional teacher need to have firm beliefs and strong qualities regarding to work with children and their families. For the development of professionalism we need to have a clear distinguish knowledge in teaching and should maintain professional standards.The main quality being a professional teacher is need to have a commitment to help students always. They should understand the responsibilities and and their roles as professional in schools. The teachers shou ld prepare the students as to participate the responsible citizens for the society. Every teacher thinks that they want to become a good and professional teacher, but about being a professional teacher is there any lore? Is there any particular qualities for becoming a good teacher? And how to become a rectitude teacher? There are some important accredits in order to give a particular form of the professional teacher. Each feature is designed in the standards of preparation of professionalismShow MoreRelatedCo Teaching : An Illustration Of The Complexity Of Collaboration1188 Words   |  5 Pagesinstruction by a general education teacher and a special education teacher or another specialist in a general education class that includes students with disabilities (Friend, Cook, Hurley-Chamberlain Shamberger, 2010).† Students learn from two or more people who may have different ways of thinking or teaching. Co-teachers distribute the responsibilities of planning, evaluation and instruction in their classroom. Co-teaching is effective in classrooms when teachers work together. There are studiesRead MoreEnglish Language Learners : How Scaffolding Helps830 Words   |  4 Pagesfor English Language Learners: How Scaffolding Helps.† Siegel, M., Menon, D., Sinha, S., Promyod, N., Wissehr, C., Halverson, K. (2014). Equitable Written Assessments for English Language Learners: How Scaffolding Helps. J Sci Teacher Educ Journal of Science Teacher Education, 681-708. In the article Equitable Written Assessments for English Language Learners: How Scaffolding Helps, the researchers investigated the effects of scaffolding on classroom written assessments for English languageRead MoreHow Video Games Helps Improve The Lives Of Thousands Of People Around The World895 Words   |  4 PagesChanging behavior is a difficult task. It is difficult to quit smoking, save more money, or choose to take the stairs instead of taking the elevator. Behavior change is even more complicated when problems related to access are added. Development professionals are committed to the cause of finding and implementing solutions that help improve the lives of thousands of people around the world. One aspect of the challenge is to have really good solutions, but the biggest challenge (often ignored) isRead MoreTeaching Strategies For The 21st Century Student1323 Words   |  6 Pagescollege and career ready. Considering these factors, it is important that ways are introduced to educate the teacher on how to properly incorporate technology, but how? Administrators as well as teachers play an important role in determining how this task can be achieved, and the consensus being through continuous professional development. The purpose of this paper is to discuss professional development and the ways that staff can stay current on latest trends and technologies in the education fieldRead MoreTeacher Tenure : An Important Part Of Americas Educational System894 Words   |  4 PagesIssues With Teacher Tenure America is dependent on teachers; good, well educated teachers who dispense their knowledge onto their students without prejudice. History has shown us that teachers have had to go to great lengths to gain equal rights in the work place. Teachers used to have to follow strict and sometimes outrageous rules to keep their job. A female teacher could be fired from her job by getting pregnant or even by just wearing jeans to work or staying out too late. Teacher tenure wasRead MoreThe Curriculum : Learning Needs Of A Particular Student Or Small Group Of Students Essay1451 Words   |  6 Pagesstudents rather than the more typical pattern of teaching the class as though all individuals in it were basically alike† (Tomlinson Allan, 2000. P.4). Many teachers find that thinking about ways to differentiate literacy instruction comes somewhat naturally whereas differentiation in mathematics seems more demanding or challenging. As many teachers that I’ve interviewed put it, â €Å"Do we have to differentiate in math, too?† We can do this in reading, but it’s impossible in math! In reading, there areRead MoreSupervision for Successful Schools1176 Words   |  5 Pagesamong the staff and the administrator, also, the independence of the teachers is evident, it is no common goal it is a more individual goals setting, usually the responsible for everything are the students and teachers fell that it is not a need for immediate change (Marshall, 2005). The instruction in this schools are really structure to use the same textbook and to be in a synchronized page, teachers are usually in a professional Isolation but with a dependence and hierarchy structure (Glickman etRead MoreChanging The Etp Approach On Writing : New Charter University1554 Words   |  7 Pagesshows the role of everybody would could feasibly be involved in this process. The person must also consider Kurt Lewin’s theories on how to establish change. Overall, the work tha t goes into the process of proposing change can be almost as daunting a task as change itself. However, if the process is executed properly, the entire organization can benefit greatly. Keywords: change, doubters, plan, involved, Kurt Lewin, process of change Changing the ETP Approach to Writing The Fulbright Commission’sRead More1.1 Summarise Key Aspects of Legislation, Regulatory Requirements and Codes of Practice Relating to Own Role and Responsibilities792 Words   |  4 Pagespractice relating to own role and responsibilities. Teachers always have to protect themselves and the best way to do it is to follow the rules of the code of practice. Being a teacher makes me automatically an example for my students therefore I must not discriminate, abuse (physically or verbally), dress inappropriate, and be late or messy. The Code of Professional Practice comes in support of all teachers as guidance to how to be a good teacher. In a continually changing society the professionRead MoreThe Importance Of A Teacher Leadership Program1700 Words   |  7 Pages#1 Drawing upon class activities, course materials and professional experiences explain why it is important for a school leader to demonstrate skills that promote teacher leadership functions focused on instructional proficiency and enable faculty and staff to work as a system focused on student learning. (2a, 7d) Nowadays it is paramount to appreciate the teacher leadership idea. When school leaders demonstrate skills that promote teacher leadership functions that are focused on instructional

Recollecting One’s Childhood Memory Free Essays

Childhood is the most innocent time of someone’s life. With the passage of time, childhood fades into adolescence and then adulthood, yet the sweet memories of childhood linger on. My childhood recollections are those of a carefree life, nurtured with love and concern. We will write a custom essay sample on Recollecting One’s Childhood Memory or any similar topic only for you Order Now I was the baby of the family with only one older sister. I don’t remember much from when I was little, but I have a few memories that have stuck with me throughout the years. My family lived in a one story, barn red house on 9th street. Two houses down the road lived my best friends’ grandmother who babysat her almost every weekend; two houses up the road lived my sisters’ best friend, her two younger brothers, and across the street lived our other two friends. All of us would hangout every afternoon before dinner. In my mind nothing could go wrong, we were children who went to school, played and slept. I was in preschool at the time and one day I went to school and found out that my teachers’ cat had kittens and if my parents said it was okay, I was able to take one home. That night I asked my mother if I could bring one home, and she said when they were big enough, I could pick one out and bring it home. My favorite kitten was mostly gray with some calico spots, and I was able to take her home. I named her Call. I was so excited that I had my very own cat! I couldn’t wait to see her grow up. When I first took her home she was an inside cat only, but when she got bigger she was aloud outside. One day after school my sister and I went across the street to play with our friends and Call allowed, she loved to follow me around and play with me. While she was crossing the road, a car came and Instead of slowing down, they sped up and hit my cat In front of my sister and me. I was heartbroken and started bawling. My parents heard our screams and ran outside and across the street. My father picked me up and carried me home covering my eyes as we passed Call. When my sister and I calmed down my dad went and got Call, dug a hole next to our rose bush, and burled her. From that day on I never understood how people could be cruel to animals. I love all animals and my heart aches when I see a dead or hurt animal on the side of the road. This memory Is one of the few I remember from my childhood, I believe that this memory I have makes me love animals with my whole heart and subconsciously makes me treat my animals Like they are my children. My love for animals Is greater than the love I have for myself. Recollecting One’s Childhood Memory By Camaraderie’s spots, and I was able to take her home. I named her Call. I was so excited that I had school my sister and I went across the street to play with our friends and Call the road, a car came and instead of slowing down, they sped up and hit my cat in carried me home covering my eyes as we passed Call. When my sister and I calmed down my dad went and got Call, dug a hole next to our rose bush, and buried her. Road. This memory is one of the few I remember from my childhood, I believe that makes me treat my animals like they are my children. My love for animals is greater. How to cite Recollecting One’s Childhood Memory, Papers