MGTA01H3 Study Guide - Midterm Guide: Monopolistic Competition, Workforce Productivity, Oligopoly

• School: UTSC
• Department: Management (MGT)
• Course: MGTA01H3
• Professor: utsc

Document Summary

Practice saq questions for the october 2009 mgta03 mid-term test. Identify the degree of competition that exists in the canadian banking industry. You must explain and justify your response by listing four features of this degree of competition. Give example of industry or product that is sold in a monopolistically competitive industry. Explain and justify by identify at least four features of a monopolistically competitive market. An industry that is monopolistically completive would be coffee shops vs. starbucks. Lots of suppliers that are mostly all small. Most are more or less the same; some are big. Most sell at the same price; some (big) suppliers can charge more most industries can differentiate themselves. Starbucks has convinced they are better and thus they can charge more. One of the reasons that per capita gdp in canada lags behind that of the united states is that labour productivity in the united states is higher.