It doesnot need reference. The second question - needs to be a monopoly in australia sydney.

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It doesnot need reference. The second question - needs to be a monopoly in australia sydney.
Answered Same DayApr 06, 2022

Solution

Komalavalli answered on Apr 07 2022
15 Votes
1. In a monopoly market there is only one firm who acts as both individual and market supplier. Therefore in a monopoly demand curve and market demand curve is same. As a profit maximizer they will first decide the quantity and then set the price of a product.
They have both marginal revenue and demand curve as downward sloping one and share same y intercept. But Marginal revenue curve is two times steeper than demand curve and always lies below the demand curve.
2. In Australia, the structure of oligopolistic marketplaces is clearly characterised. Some industries have a high rate of oligopoly, whereas others have a low rate of oligopoly. Many goods face equal competition in markets. There is a corporate monopoly in the supermarket industry. The country has a monopoly in the supermarket and banking sectors.
IGA, Woolworths, Coles, and Aldi enjoy a monopoly on the continent in the supermarket business. It has a population of around 25 million people. Woolworths has the most shares in the supermarket, making it a realistic and significant monopoly. Woolworths, Coles, and Wesfarmers are the three firms or groupings that...
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