in which of the following market structures do you find many sellers course hero

Which market structure occurs when there is only one seller?

a market structure that occurs when there is only one seller of a product that has no close substitutes -least competitive market structure cartel a group that acts together to set prices and limit output price maker a business that does not have to consider competitors when setting the prices of its products -consumers either buy or choose not to

What do both buyers and sellers know about the market?

both buyers and sellers know the market prices and other conditions independent buyers and sellers buyers and sellers do not band together to influence prices monopoly a market structure that occurs when there is only one seller of a product that has no close substitutes -least competitive market structure

What are the four market structures in order?

Q. List the four market structures in order from least competitive to most competitive. answer choices. Oligopoly, Monopoly, Perfect Competition, Monopolistic Competition. Perfect Competition, Oligopoly, Monopoly, Monopolistic Competition. Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition.

How do the actions of an individual seller affect the market?

The actions of an individual seller do not affect the overall supply or price of a good or service. In this market, the producer is the least responsive to buyers' needs and wants. Firms in this kind of market produce goods that are very close substitutes. In this market, a good is protected from competition by a patent.

Why is a single business identified with the industry?

a single business is identified with the industry because it controls the supply of a product that has no real substitues

Why do monopolies act as price makers?

monopolies act as price makers because they sell products that have no close substitutes and they face no competition

Can producers enter the market with no interference?

producers can enter or exit the market with no interference

Answer

Perfect competition describes a market structure with many sellers that produce identical products (think: "price takers").

New questions in Business

Leah wants to get a home loan from her bank. Which agency would regulate that loan to ensure it is fair? FDA- Food and Drug Administration SEC- U. S. …

What happens if a firm raises its price?

If a single firm raises its price it will not be able to sell any of its output. The actions of an individual seller do not affect the overall supply or price of a good or service. In this market, the producer is the least responsive to buyers' needs and wants.

How is a good protected from competition?

In this market, a good is protected from competition by a patent.

Does the actions of an individual seller affect the overall supply or price of a good or service?

The actions of an individual seller do not affect the overall supply or price of a good or service.