chart - Competitors are Allen Brothers Consumers and Meats...

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Perfect competition Monopoly Monopolistic Competition Oligopoly An example of an organization Fish market United States Postal service StockYards Packing Company Ford Motor Company Goods or services produced by the organization Fish, vegetables, and fruits are sold Delivering mail Prime Cut Steaks Make, sell and repair automobiles Barriers to entry There are no entry barriers Patents: only federal government employees can deliver confidential mail High cost High startup costs, Low chance of survival Numbers of organizations Fish,Vegetable and fruit buyers and sellers. 1, Federal Organization
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Unformatted text preview: Competitors are Allen Brothers, Consumers and Meats By Linz There are three main American Automakers: Ford Motor Company, General Motors and Chrysler Corporation Price elasticity of demand Inelasticity The price is fixed and does not change with demand. The demand is inelastic in which it is fixed to a price, and does not change in demand much Elastic price is not fixed can change weekly and changes with demand. Unit Elastic (around 1.2) Economic profits (Is there a presence of economic profits? (Yes or no.) Yes No economic Profits. Yes Yes...
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This note was uploaded on 06/10/2011 for the course BUSINESS mgt 521 taught by Professor Klein during the Spring '10 term at University of Phoenix.

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