--%>
Assignment Help - homework help

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 : Legal doctrine in Laws and Regulations

    Whenever goods are non-standardized and rarely purchased by an individual, an assumption that the sellers will contain superior knowledge of the product characteristics is an argument for applying the authorized doctrine of: (1) Caveat emptor. (2) Nolo contendere. (3)

    		•
  • Q : Market form-product distinguishing In

    In which market form, the products are distinguished. Answer: In Monopolistic competition

    		•
  • Q : Corporations account problem I have a

    I have a problem in economics on Corporations account problem. Please help me in the following question. The Corporations account for roughly ______ of U.S. business revenues. (i) 1/4. (ii) 1/2. (iii) 1/6. (iv) 5/6. (e) All the above.

    Q : Kinked demand curve about product price

    When an oligopolist is aware about the firm faces a kinked demand curve, this: (1) may cut price along with little expected reaction by rivals. (2) can avoid consumer demand and preferences. (3) may keep product price despite large ch

    		•
  • Q : Define normal goods Normal goods:

    Normal goods: Normal goods are such goods whose demand increases with the increase in income of consumer.

    		•
  • Q : Perfect mobility and perfect information

    The model of perfect competition assumes perfect mobility and perfect information. Transaction costs are not present; therefore all buyers and sellers base decisions on the best information obtainable to anyone else, as well as transportation (mobilit

    		•
  • Q : Determine price elasticity when demand

    When the quantity of scuba lessons demanded through tourists in Hawaii increases from 800 to 1,000 weekly while the price falls from $60 to $40 per session, in that case the price elasticity of tourist demands for scuba lessons is: (1

    		•
  • Q : Illustration of Shirking Can someone

    Can someone please help me in finding out the accurate answer from the following question. Jones, a computer programmer, plays computer games all day rather than doing his work. This is an illustration of: (i) Moral turpitude. (ii) Inefficiency salaries. (iii) Shirkin

    		•
  • Q : Perspective of Society with Economic

    By the perspective of society as an entire, in that case land resources are: (w) variable in supply. (x) perfectly elastically supplied. (y) the closest of all resources to generators of pure economic rents. (z) increased through cultivating previousl

    		•
  • Q : Importance of strategic management

    Explain in brief about the importance of strategic management towards the success of a business?

    		•