300 words. Please see the attachment.© BrainMass Inc. brainmass.com October 25, 2018, 2:10 am ad1c9bdddf
1. Is this an example of a perfectly competitive market?
This is not an example of a perfectly competitive market. In fact, this is an example of monopolistic competition. The reason is that each competitor has its own distinct web design, brand name, and graphics. Each retailer attempts to differentiate her products as well as her website. Even small retailers spend some money on advertising their sites. In case of a monopolistic competition there are many consumers in a given market, and no single market has total control over market price, there are few barriers to entry and exit, consumers perceive non price differentiation, and the sellers have a limited control over the prices they charge (Brakman.S, & Heijdra, B, 2004).
2. Would it be difficult to calculate MC and MR for these small online retailers?
It would not be difficult to calculate the marginal cost and marginal revenue for these small online ...
This answer provides you an excellent discussion on competitive market
Overview of conditions for a monopolistic market
A) What are the conditions for a perfectly competitive market?
b) What are the conditions for a monopolistic market?
c) What are the conditions for a monopolistic competitive market?
d) What are the conditions for an oligopolistic market?
e) How would you explain the differences among these market structures?
Identify which market structure your organization competes in and why you think so.
F) What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets?
Please answer these questions in your own words and five one example of each.
give the exact reference location and page if from a text or website.
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