Which of the following could not prevent a market from becoming perfectly competitive?

Which of the following could not prevent a market from becoming perfectly competitive?
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Description : In a perfectly competitive market, individual consumers have _____.?

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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.

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

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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

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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

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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

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Last Answer : marginal revenue with marginal cost

If perfectly competitive markets, the profit maximization rule can be represented by: A. Mr = ATC B. P= MC C. P= ATC D. P = AC

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

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The demand curve facing a perfectly competitive firm is - (1) downward sloping (2) perfectly inelastic (3) a concave curve (4) perfectly elastic

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Last Answer : (b) Same as that of the total market demand;

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

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The main purpose of an electric space heater installed in a large AC generator is to _____________. A. prevent the windings from becoming brittle B. prevent moisture from condensing in the windings during shutdown C. prevent acidic pitting of the slip rings D. keep the lube oil warm for quick starting

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Description : Which of the following is characteristic of a competitive market?

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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

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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. B. Through having a lower cost than their competitors. C. Through concentrating on a narrow market segment. D. Through establishing their uniqueness

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

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

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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. Simultaneously seeking to achieve differentiation and a price lower than that of competitors C. Concentrating on a particular feature of a product or service to achieve differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage

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

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. B. Through having a lower cost than their competitors. C. Through concentrating on a narrow market segment. D. Through establishing their uniqueness.

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.

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 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

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. Simultaneously seeking to achieve differentiation and a price lower than that of competitors C. Concentrating on a particular feature of a product or service to achieve differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage

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

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 a global market presence. c) Alliance partner must come from the same culture. d) Alliance partner must have similar assets.

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.

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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 consumers. c) The national home base of a firm must be the biggest market for a multinational firm. d) The national home base of a firm plays a key role in shaping that firm's competitive advantage in global markets.

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.

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 competitive drivers c) Market drivers, cost drivers, competitive drivers, bargaining drivers d) Market drivers, cost drivers, competitive drivers, regionalization drivers

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Last Answer : Market drivers, cost drivers, government drivers, and competitive drivers

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

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

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

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

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

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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

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

In market-penetration pricing, the company’s objective is to ________, believing that higher sales volume will lead to lower unit costs and higher long-run profits. A. Block competitive launches B. Maximize their market share C. Minimize their market share D. Maximize volume E. None of the above

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Last Answer : B. Maximize their market share

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 hard to make sure that the promotional campaign is clearly understood by the nation's consumers and doesn't offend anyone. Which of the factors in the external environment is he being influenced by? A. Socio-cultural environment B. Competitive environment C. Economic environment D. Legal environment

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