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Why does competition among sellers result in better customer service?
Companies use good service to attract customers.
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
What is the meaning of basic market models?
the meaning of market models is competition derived from pure competition meaning many sellers, monopolistic competition meaning most sellers, oligopoly competition meaning few sellers and pure monopoly meaning one seller.
Why there is a large number of sellers and buyers in monopolistic competition?
large numbers of buyers and sellers
How do sellers differentiate their products under monopolistic competition?
Sellers offer different, rather than identical, products. Each firm seeks to have monopoly-like power by selling a unique product. Product variation is much more common than having identical products. As a result, monopolistic competition is much more common than perfect competition.
Which is the main difference between perfect competition and monopolistic competition?
In monopolistic competition, sellers can profit from the differences between their products and other products.
Why does competition among sellers result in better customer service?
Companies use good service to attract customers.
What is the struggle between buyers and sellers to get the best products at the lowest prices?
That Would Be COMPETITION
What is the meaning of basic market models?
the meaning of market models is competition derived from pure competition meaning many sellers, monopolistic competition meaning most sellers, oligopoly competition meaning few sellers and pure monopoly meaning one seller.
Numbers of sellers in a market?
perferct competition are a large number of buyers and sellers.
Why there is a large number of sellers and buyers in monopolistic competition?
large numbers of buyers and sellers
How do sellers differentiate their products under monopolistic competition?
Sellers offer different, rather than identical, products. Each firm seeks to have monopoly-like power by selling a unique product. Product variation is much more common than having identical products. As a result, monopolistic competition is much more common than perfect competition.
What is the rivarly among sellers for consumer dollars?
competition
What is the typical result of competition between businesses?
bette quality for lower price
Economic rivalry among sellers for the consumers' dollars is called?
competition
What is oligopolistic theory?
An oligopolistic competition is a type of competition between multiple large firms. In this situation, they make up a big part of a market share.
What are the requirements for competition?
Perfect knowledge of market - buyers' and sellers' sides Many buyers and sellers Sellers are passive price takers Free entry and exit for the industry Homogenous product
