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1191201779

NUR ASSILA BINTI ABDUL RAHMAN

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Bhavinjit Kaur Akhara
1191202593

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Bhavitra
1201200951

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1191201779

NUR ASSILA BINTI ABDUL RAHMAN

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Kavinarasi Raman Naidu
1191202621

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If the firms form a castle and have zero fixed cost, then they will act like a monopoly. Choosing the quantity of output where MR = MC and it will enjoy positive economic profit (shaded area in figure)

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The firm maximizes it's profits and products a quantity where the firm's MR = MC The firm is able to collect a price based on the AR curve. Difference between the firm's AR and AC multiplied by the quantity sold gives the total profit (shaded area in the figure)

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Figure 0.2 shows the graph for monopolist firm A. MC, MR, AC and demand curve are masked. Shaded area (Pm Pc Bm) is indicating the profit.

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Perfect competition

Figure 0.1 shows a graph of an individual perfect competitive firm shaded area is moted as positive profit. MR, ATC, MC and price are also maked.

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1. A few firms with large market share and has high barriers to entry.

2. Each firm has little market power on its own right.

3. Higher prices than Perfect Competition.

4. Oligopoly firm will operate based on how they believe competitors will react.

5. Oligopoly firms benefit from high levels of market share and they benefit from economies of scale.

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1. Has many buyers and sellers and slight differentiated products.

2. It maximize profits but has low barriers to entry and exit.

3. Potential profits in the short term.

4. Normal profits in the long-term.

5. Imperfect information and non-price competition.

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1. Includes profit maximizer, price maker, high barriers to entry, single seller, and price discrimination.

2. Sources of monopoly power include economies of scale, capital requirements, technological superiority, no substitute goods, control of natural resources, legal barriers, and deliberate actions.

3. The cost functions are the same, it minimize cost and maximize profit.

4. It includes marginal revenue and price, product differentiation, number of competitors, barriers to entry, elasticity of demand, excess profits, profit maximization, and the supply curve.

5. The monopoly has a downward sloping demand.

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1. No company holds a substantial market share.

2. The industry output is standardized and there is freedom of entry and exit.

3. The efficient market equilibrium in a perfect competition is where marginal revenue equals marginal cost.

4. It has many competing firms and similar products been sold.

5. Buyers will have full information.

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The three firms that fits the characteristics identified for each of the market structure is Air Asia, Digi and Netflix

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The three firms that fits the characteristics identified for each of the market structure is Nike, Adidas and McDonald

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The three firms that fits the characteristics identified for each of the market structure is Microsoft, Google and Facebook

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The Holstein Milk Company Sdn Bhd (Farm Fresh)

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The three firms that fits the characteristics identified for each of the market structure is Malaysian Rubber Board (MRB), eBay and The Holstein Milk Company Sdn Bhd (Farm Fresh)