Preview

Dealybob Business In A Perfectly Competitive Market

Satisfactory Essays
Open Document
Open Document
264 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Dealybob Business In A Perfectly Competitive Market
If the dealybob business were in a perfectly competitive market, I wouldn’t have to consider the barriers to entry. In perfect competition there are no barriers to entry; if there are profits to be made, other firms will enter the market until economic profits are reduced to the normal profit level. Because of this, I would receive zero economic profit if I entered a dealybob market that was in perfectly competitive market.
Like a perfectly competitive industry, monopolistically competitive industries also don’t have barriers to entry. So, if dealybobs were apart of a monopolistically competitive industry, it would be easy to enter this industry. Additionally, if I were to enter this market, I may gain economic profit in the short run, but
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Egt1 Task 3 Essay Example
    • 1075 Words
    • 5 Pages

    Egt1 Task 3 Essay Example

    An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher costs for consumers. [1] Alternatively, oligopolies can see fierce competition because competitors can realize large gains and losses at each other's expense. In such oligopolies, outcomes for consumers can often be favorable.…

    • 1075 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Clarence Earl Gideon's Trial
    • 397 Words
    • 2 Pages

    Clarence Earl Gideon's Trial

    Clarence Earl Gideon was a man that was wrongfully convicted of a crime. Clarence had a bad background prior to the trial. His record prior was that he had felonies, and he was in jail for four times already, and he ran away from home, and was found with some stolen clothes on. His background didn’t make it easy for him to be found guilty. Gideon was accused of stealing wine, beer, money, and Coca Cola from the pool room. The charges that were brought to him was Petty theft. The evidence the state used against him was that he was seen by a witness breaking into the pool room. The sentencing that Gideon got was 5 years in a working prison. Gideon’s first trial was not in his favor, because he did not have a lawyer defending him, and he didn’t…

    • 397 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Xecom Uop Week4
    • 984 Words
    • 4 Pages

    Xecom Uop Week4

    To consider different roles in the economy we will have to look at competitive markets, monopolies, and oligopolies. We will discuss in this paper exactly how each of these roles play a part in our economy. Some of the things we will discuss are the characteristics of each of these market structures, along with how price is determined in each of these structures. Other topics will include how the output of each market structure is determined in terms of maximizing profits. The last two things we will look at are the barriers to entry if and ultimately the role in which each market structure plays in this economy.…

    • 984 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Kroger's Five Forces Analysis Paper
    • 290 Words
    • 2 Pages

    Kroger's Five Forces Analysis Paper

    Bigger players can create mobility barriers for smaller players due to advantages in purchasing, distribution, marketing, and finance. The smaller players cannot afford to compete on price, products offerings, and geographic coverage.…

    • 290 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    How Did Veespasian Build The Roman Coliseum
    • 147 Words
    • 1 Page

    How Did Veespasian Build The Roman Coliseum

    The Colosseum is one of the most famous surviving Roman buildings. As many as fifty-thousand Romans packed its stands to watch the fights that took place in the arena. The many entrances allowed a large crowd to come and go quickly.…

    • 147 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    chapter 3
    • 574 Words
    • 3 Pages

    chapter 3

    4. Monopolistic competition has few to many competitors and is a little difficult to enter the business because the goods and services they have to offer are similar products to the competitors but differentiated by the brand name and price. The individual firms have some control over the prices, examples of goods and services they offer are sports wear which look the same but have different prices depending on the brand names, local fitness center, etc.…

    • 574 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Maximizing Profits in Market Structures
    • 1081 Words
    • 5 Pages

    Maximizing Profits in Market Structures

    Competitive markets, monopolies, and oligopolies play a big role in the economy. We will be discussing the characteristics, price determination, output determination, barriers to entry, and the role in economy of each market structure.…

    • 1081 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    The Importance Of Monopoly In The United States
    • 468 Words
    • 2 Pages

    The Importance Of Monopoly In The United States

    Throughout history, within in the United States, regulations have been placed in order to ensure a fair market for consumers. Oligopolies have been to be found in certain aspects to be illegal when firms intent to corner the market using anti competitive practices. Within monopoly there tends to be limited competitors because of there is no substitute for the product for which the company produced. A true monopoly is to keep a competitor out of the market and to put obstacles to discourage competitors in the market which is considered Barriers to entry without having high barriers the companies don’t tend to stay in business very long.…

    • 468 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Mandatory Vaccines
    • 818 Words
    • 4 Pages

    Mandatory Vaccines

    “The Centers for Disease Control estimated that 732,000 American children were saved from death and 322 million cases of childhood illnesses were prevented between 1994 and 2014 due to vaccinations” (“Should Any Vaccines”). Although a number of vaccinations are required for children entering the public school system, no federal law exists for students entering school; instead, it is the individual state’s decision to require vaccines (“Should Any Vaccines”). The idea of mandatory vaccinations infuriates some people because they feel vaccines should be a personal choice, however, government involvement in the public’s health serves as a preventative for children and everyone around them. Even though risks may exist, vaccinations allow for safety to prevail in society. For the small percentage of people who can not be vaccinated due to an existing disease or an allergy to the ingredients, the vaccination of those who are able is a safe and cheap way to keep the minority healthy without causing many adverse reactions.…

    • 818 Words
    • 4 Pages
    Good Essays
    Read More
  • Powerful Essays

    Effects of Competitive Markets
    • 1348 Words
    • 6 Pages

    Effects of Competitive Markets

    The degree to which a market or industry can be described as competitive depends in part on how many suppliers are seeking the demand of consumers and the ease with which new businesses can enter and exit a particular market in the long run (Makinaw, 2009). This paper will discuss the characteristics of a competitive market. This paper will also analyze the effects of competition amongst electronic chains with a focus on Circuit City.…

    • 1348 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Good Essays

    Monopoly Essay
    • 533 Words
    • 3 Pages

    Monopoly Essay

    Oligopolies are not monopolies, although they do tend to make above normal profits. Monopolistic competition does not yield these types of profits in the long-run. Economic profit goes to zero here in the long-run because there is a lack of barriers here to prevent competition from entering (as there is with perfect competition).…

    • 533 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    The Concepts of Limit and Predatory Pricing
    • 1934 Words
    • 8 Pages

    The Concepts of Limit and Predatory Pricing

    References: * Dixit, A. K., 1979. "A Model of Duopoly Suggesting a Theory of Entry Barriers", The Bell Journal of Economics, Volume 10, Issue 1, p21…

    • 1934 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Pepsi as an Oligopoly Market Product
    • 8141 Words
    • 33 Pages

    Pepsi as an Oligopoly Market Product

    An oligopoly usual depends on high barriers to entry. It often leads to a lack of price competition (although there may be fierce competition in terms of marketing etc) which is the problem from the point of view of consumers.…

    • 8141 Words
    • 33 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    CHAPTER 7 Answer
    • 1725 Words
    • 6 Pages

    CHAPTER 7 Answer

    Monopolistic competition refers to the market organization in which there are many sellers of a differentiated product. Monopolistic competition is very common in the retail and service sectors of our economy. Examples of monopolistic competition are the numerous barber shops, gasoline stations,…

    • 1725 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Better Essays

    economics - pricing under different market structure
    • 4195 Words
    • 17 Pages

    economics - pricing under different market structure

    Barriers to Entry: As in oligopoly, firms are not able to move resources in, and out of this market relatively easily with little expense. The barriers to entry are higher in monopoly and also include the same two types.…

    • 4195 Words
    • 17 Pages
    Better Essays
    Read More

Related Topics