Description : Which of the following could not prevent a market from becoming perfectly competitive?
Last Answer : excessive information
Description : In equilibrium, a perfectly competitive firm will equate - (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost
Last Answer : (4) marginal revenue with marginal cost Explanation: A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost ... marginal cost curve. The marginal cost curve is thus the perfectly competitive firm's supply curve.
Description : In a perfectly competitive market, a firm's - (1) Average Revenue is always equal to Marginal Revenue (2) Marginal Revenue is more than Average Revenue (3) Average Revenue is more than Marginal Revenue (4) Marginal Revenue and Average Revenue are never equal
Last Answer : (1) Average Revenue is always equal to Marginal Revenue Explanation: Average revenue is the amount money received by a firm per unit of output sold. Marginal revenue is the change in total revenue ... . In a perfectly competitive market, a firm's Average Revenue is always equal to Marginal Revenue.
Description : A market in which there are only 2 sellers of a good is known as: a) monopoly b) monopsony c) duopoly d) perfectly competitive View Answer / Hide Answer
Last Answer : c) duopoly
Description : A market in which there is only one seller of a good is known as: a) monopoly b) monopsony c) duopoly d) perfectly competitive
Last Answer : a) monopoly
Description : In a perfectly competitive market, a firm’s (1) Average Revenue is always equal to Marginal Revenue (2) Marginal Revenue is more than Average Revenue (3) Average Revenue is more than Marginal Revenue (4) Marginal Revenue and Average Revenue are never equal
Last Answer : Average Revenue is always equal to Marginal Revenue
Description : In equilibrium, a perfectly competitive firm will equate (1) marginal social cost with marginal social benefit (2) market supply with market demand (3) marginal profit with marginal cost (4) marginal revenue with marginal cost
Last Answer : marginal revenue with marginal cost
Description : The Diamond Model assumes that: a) Multinational firms must develop global strategies based only on home demand conditions. b) Multinational firms must pay less attention to global consumers than domestic ... a firm plays a key role in shaping that firm's competitive advantage in global markets.
Last Answer : The national home base of a firm plays a key role in shaping that firm's competitive advantage in global markets.
Description : Robert is a marketer for a global consumer products company. He is working on the promotional campaign designed to reach a target audience in a new international market. Robert is working ... A. Socio-cultural environment B. Competitive environment C. Economic environment D. Legal environment
Last Answer : A. Socio-cultural environment
Description : A marketer's advertising platform should consist of issues that are important to consumers. Selling features should not only be important to consumers, but also, if possible, should be features that A ... C)are familiar concepts to those in the target market. D)are reasonably inexpensive to develop.
Last Answer : A)competitive products lack.
Description : Market demand curve for a commodity is a (a) Horizontal summation of all the individual demand curve for that product (b) Summation of demand curve of competitive products (c) Demand curve of average demand and price of previous six months (d) Projected demand schedule for next three months
Last Answer : (a) Horizontal summation of all the individual demand curve for that product
Description : If perfectly competitive markets, the profit maximization rule can be represented by: A. Mr = ATC B. P= MC C. P= ATC D. P = AC
Last Answer : ANSWER: B
Description : The demand curve facing a perfectly competitive firm is - (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic
Last Answer : (4) perfectly elastic Explanation: A perfectly competitive industry is comprised of a. large number of relatively small firms that sell identical products. Each perfectly competitive firm is so small ... at the going market price. This translates into a horizontal or perfectly elastic demand curve.
Description : Which of the following industries most closely approximates the perfectly competitive model? (1) Automobile (2) Cigarette (3) Newspaper (4) Wheat farming
Last Answer : (4) Wheat farming Explanation: In economic theory, perfect competition describes markets such that no participants are large enough to have the market power to set the price of a homo- ... homogenous products and neither consumer nor producer has influence over prices, they are simply price takers.
Description : If the cross price elasticity of demand for two product is negative, then the two products are ………………. (a) Complementary to each other ; (b) Perfectly substitute for each other; (c) Completely competitive ; (d) Unrelated
Last Answer : (a) Complementary to each other ;
Description : The demand curve facing a perfectly competitive firm is (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic
Last Answer : perfectly elastic
Description : I appear to be real but I'm not, I'm perfectly accurate but deceiving, I have no feelings or emotions, but the individual I'm mimicking does. What am I? -Riddles
Last Answer : Your reflection in the mirror.
Description : If the demand curve confronting an individual firm is perfectly elastic, then firm is A.Price taker B.Adjust output C.Adjust price D.All of these Answer Repor
Last Answer : A.Price taker
Description : The perception of price depends on A)a product's actual price and consumers' expectations regarding price. B)a consumer's analysis of competitive prices. C)a consumer's expectation of price. D)a product's actual price compared with the manufacturer's suggested price.
Last Answer : A)a product's actual price and consumers' expectations regarding price.
Description : What type of advertising points out a brand's uses, features, and advantages that benefit consumers but may not be available in other brands? A)Reminder advertising B)Reinforcement advertising C)Competitive advertising D)Defensive advertising E)Institutional advertising
Last Answer : C)Competitive advertising
Description : The demand curve of a Monopoly firm is – (a) Same that of a firm in a perfect competition ; (b) Same as that of the total market demand; (c) Non-exist ; (d) Perfectly elastic
Last Answer : (b) Same as that of the total market demand;
Description : Long-term equilibrium of an Industry under a perfectly market conditions in achieved when (a) All the firms are earning normal profit ; (b) All the firms are in equilibrium ; (c) There is no further entry or exit of firms from the industry ; (d) All the three
Last Answer : (d) All the three
Description : Very short period is the market condition where the supply remain perfectly (a) Elastic ; (b) Inelastic ; (c) Unity elastic ; (d) Elasticity less than 1
Last Answer : (b) Inelastic ;
Description : Dynamic capabilities refer to: a) the firm's ability to integrate, build, and reconfigure internal and external competences to address rapidly changing environments. b) the link between ... underlie a company's multiple production lines and critically underpin the firm's competitive advantage
Last Answer : the firm's ability to integrate, build, and reconfigure internal and external competences to address rapidly changing environments.
Description : The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production
Last Answer : ; (d) Price of factor of production
Description : The aiming of advertising or selling at a specific group of consumers who all have similar characteristics 1. Same-people Marketing 2. Individual Marketing 3. Services Marketing 4. Industrial Marketing 5. Target Marketing
Last Answer : Target Marketing
Description : _________________ is direct communications with carefully targeted individual consumers to obtain an immediate response. A. Personal selling B. Public relations C. Direct marketing D. Sales promotion
Last Answer : C. Direct marketing
Description : Ethical formalism philosophies focus on A)the rights of consumers and the greatest good for society. B)situational ethics and increasing profits C)maximising the greatest good for the greatest number of people. D)the intentions associated with a particular behaviour and the rights of the individual.
Last Answer : D)the intentions associated with a particular behaviour and the rights of the individual.
Description : Neoclassical economics concerns itself with the determination of various prices. In the branch of Microeconomics, economists are concerned with _________, while in Macroeconomics they consider _________ (a) Price ... prices: the aggregate price level ; (d) Costs to consumers: costs to producer
Last Answer : (c) Individual product prices: the aggregate price level ;
Description : The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers ... be the equilibrium price (a) `4 ; (b) `5 ; (c) `3 ; (d) `4.5
Last Answer : ; (c) `3 ;
Description : Is this a sign of a healthy, competitive market?
Last Answer : Doesn’t sound good to me, nor does taking over auto companies. Let auto companies fail; smaller companies would form to take over their assets and make them more competitive.
Description : What are the best qualifications, degrees, certifications or skills, etc. in the business field that one should obtain so as to be competitive when the job market rebounds?
Last Answer : It has been my understanding in the past that one is usually expected to work in the business field for a few years before going for an MBA. I don't know if that is changing with ... based programming and networking will be in demand but you have to decide where your aptitudes and interests lie.
Description : Which of the following is characteristic of a competitive market?
Last Answer : efficiency
Description : Which one is a competitive market?
Last Answer : Ans. Perfect market
Description : Sellers market denotes a situation where : (1) commodities are available at competitive rates (2) demand exceeds supply (3) supply exceeds demand (4) supply and demand are evenly balanced
Last Answer : (2) demand exceeds supply Explanation: Seller's market is a market which has more buyers than sellers. High prices result from this excess of demand over supply. The opposite of the seller's market is the buyer's market, where supply greatly exceeds demand.
Description : Choice of International market entry mode is dependent on ...? A. Breadth of competitive advantage B. Tradability C. None of the above D. All the above
Last Answer : All the above
Description : Porter's notion of a differentiation strategy is best described as one in which firms seek a competitive advantage . A. Through achieving a match between their internal and external ... competitors. C. Through concentrating on a narrow market segment. D. Through establishing their uniqueness
Last Answer : Through establishing their uniqueness
Description : What metaphor is used to describe the competitive space where products are not yet well defined, competitors are not structured and the market is relatively unknown? A. Blue ocean B. Red sea C. Blue lagoon D. Red ocean
Last Answer : Blue ocean
Description : What is meant by focused differentiation? A. Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium B. ... differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage
Last Answer : Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium
Description : Porter's notion of a differentiation strategy is best described as one in which firms seek a competitive advantage . A. Through achieving a match between their internal and external environments ... . C. Through concentrating on a narrow market segment. D. Through establishing their uniqueness.
Last Answer : Through establishing their uniqueness.
Description : What metaphor is used to describe the competitive space where products are not yet well defined, competitors are not structured, and the market is relatively unknown? A. Blue ocean B. Red sea C. Blue lagoon D. Red ocean
Description : What is the most important criterion for selecting an alliance partner? a) Alliance partner must help the company towards a competitive advantage. b) Alliance partner must be a multinational firm with ... Alliance partner must come from the same culture. d) Alliance partner must have similar assets.
Last Answer : Alliance partner must help the company towards a competitive advantage.
Description : What are the four industry globalizing drivers? a) Market drivers, cost drivers, government drivers, and localization drivers b) Market drivers, cost drivers, government drivers, and ... drivers, bargaining drivers d) Market drivers, cost drivers, competitive drivers, regionalization drivers
Last Answer : Market drivers, cost drivers, government drivers, and competitive drivers
Description : The type of competitive structure that exists when a firm with many potential competitors attempts to develop a differential marketing strategy to establish its own market share is 1. mixed competition 2. oligopoly 3. monopolistic competition 4. perfect competition 5. none of these
Last Answer : perfect competition
Description : Sellers market denotes a situation where (1) Commodities are available at competitive rates (2) Demand exceeds supply (3) Supply exceeds demand (4) Supply and demand are equal
Last Answer : (2) Demand exceeds supply
Description : Which tool can you use as a quick comparison tool when conducting a competitive analysis concerning production? a. Bond ratings b. Stock price c. Customer survey d. Market share e. None of the above
Last Answer : c. Customer survey
Description : This strategy will allow us to maintain a presence in every market segment. Competitive advantage will be gained by distinguishing our product with an excellent design, high awareness, and easy ... Cycle Focus d. Differentiation Strategy with a Product Life Cycle Focus e. Broad Differentiation
Last Answer : e. Broad Differentiation
Description : This strategy will allow us to maintain a presence in every market segment. Competitive advantage will be gained by keeping R&D costs, Production costs and raw material costs to a minimum, ... Life Cycle Focus d. Differentiation Strategy with a Product Life Cycle Focus e. Broad Differentiation
Last Answer : a. Broad Cost Leader
Description : Methods used to determine total budget for advertising its market offerings are A. affordable method B. competitive parity method C. percentage of sales method D. all of above
Last Answer : D. all of above