Make the characteristic described with the market or markets it applies to by dr

Question

Make the characteristic described with the market or markets it applies to by dragging and dropping the type of market into the bin provided. Each characteristic can have multiple answers and each market type can be used multiple times. Can earn economic profit in the long run Produces at lowest possible average cost in the long run e pricing choices of one firm have a dramatic effect on other firms in the market Faces a downward sloping demand curve Usually faces entry from new firms Is typically protected by barriers to market entry

Explanation / Answer

Monopoly and Oligopoly: can earn economic profit in the long run Perfect competition: produces at lowest possible average cost in the long run Oligopoly: the pricing choices of one firm have a dramatic effect on other firms in the market all options apart from perfect competition: faces a downward sloping demand curve perfect competition: usually faces entry from new firms all options apart from perfect competition: is typically protected by barriers to market entry

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.