--%>

Problem on Monopolistic Competition

When fifty fast-food restaurants belonging to fourteen various chains are strung along an eight mile stretch of highway, it is an illustration of: (1) a primitive cartel. (2) pure competition. (3) monopolistic competition. (4) an oligopoly.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Microeconomics

  • Q : Problem regarding Principal Agent The

    The baseball manager, whose players decline to bunt occasionally, rather always swinging for the homeruns, faces a: (i) Second-mover drawback. (ii) Prisoner’s dilemma. (iii) Principal-agent problem. (iv) Grim strategy. Can so

  • Q : Oligopolistic markets in equilibrium

    Oligopolistic markets in equilibrium are described by: (w) a large number of sellers of homogeneous output. (x) monopolistic sellers dealing along with only some buyers. (y) a small number of sellers of close substitutes. (z) socially optimal amounts

  • Q : Marginal Rate of transformation Define?

    Define? Marginal Rate of transformation?? Describe with the help of an illustration.

  • Q : Total revenue raised by output

    A firm’s total revenue can definitely be raised by decreasing its output when: (1) its supply curve is perfectly price inelastic. (2) the demand curve for its output is relatively income inelastic. (3) this is currently losing money each period.

  • Q : Elasticity of Demand for Labor Can

    Can someone help me in finding out the right answer from the given options. Absolute value of the proportional change in labor hired divided by the proportional change in the wage rate is termed as the: (1) Income or substitution coefficient. (2) Employment salary or

  • Q : Problem concerning Exploitation I have

    I have a problem in economics on Problem concerning Exploitation. Please help me in the given question. Whenever resource suppliers are salaried less than the values of their marginal products [or VMPs], then they are stated to be: (i) Monopsonistic.

  • Q : Define Marginal rate of transformation

    Marginal rate of transformation: This is the amount of one good which should be given to generate one additional unit of a second good. This is also termed as marginal opportunity cost.

  • Q : Long run entry of supply curve When the

    When the price for cranberries is primarily P1, in that case in the long run: (w) firms will neither enter nor exit this industry. (x) entry of firms will move curve supply curve A to the right. (y) exit of firms will move

  • Q : External costs and external benefits

    Question: (a)         Explain the impact of external costs and external benefits on resource allocation; (b)     

  • Q : Laws and regulations for competitive

    Government regulation intends at certain potentially competitive prices or transactions frequently induce private adjustments through firms and individual therefore unexpected results comprise: (w) increased rates of growth of tax revenues. (x) rapid