4.
A. Discuss the characteristics of monopolistic competition
B. Examine how monopolistic competition is different from perfect competition.
C. Explain why it is necessary for monopolistic competition to have many sellers.
What are the characteristics of a monopolistic competition? What are the differences and similarities between a monopolistic competition and a perfect completion? Give an example for each of these two market structures.
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm. b.entry and exit by firms are restricted. c. there are many firms in a single market. d. marginal revenue is equal to price for each firm. ECTION 22 Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can eventually earn economic profits. b. each of the sellers offers a somewhat different product. C. strategic interactions...
QUESTION 4 Perfect competition differs from monopolistic competition primarily because o in perfect competition, price is a decision variable. in perfect competition, firms have homogeneous products. O in monopolistic competition, entry into the industry is limited. in monopolistic competition, there are many firms in the industry.
The main similarity between perfect competition and monopolistic competition is that: both produce standardized products. both have many buyers. neither makes an economic profit in the long run both have few sellers
. Explain the role of brands in a monopolistic competition market. How can the pricing and profits for a firm in this market structure differ from perfect competition and when will the two market types reach the same outcome? Why does that make it essential for firms to have a strong brand identity? Give an example of a product with this type of market structure and discuss (briefly) how the firms have established their brands.
What are the characteristics of monopolistic competition?
The major difference between monopolistic competition and monopoly is A. only a firm in monopolistic competition can earn an economic profit in the short run. B. only firms in monopolistic competition are protected by barriers to entryC. only a monopoly can earn an economic profit in the long run. D. how the quantity of output is determined. E. monopoly is a price setter and a firm in monopolistic competition is a price taker.In the long run, firms in monopolistic competition earn zero economic profit...
Discuss the four characteristics of perfect competition demand curve of a perfectly competitive firm is horizontal? price? B) Want to lower your price? Explain why or why not. change when market price changes? Explain. 3. A. B.Explain which of the four characteristics is primarily responsible for the fact that the C. If you owned a firm in a perfectly competitive market would you: A) Want to raise your D.Draw the demand curve for a firm under perfect competition. Would the...
Structures How does monopolistic competition differ from pure competition in its basic characteristics, from pure monopoly. Explain fully what product differentiation mav involve. Explain how the entry of firms into its industry affects the demand curve facing a monopolistic competitor and how that, in turn, affects its economic profit. Be sure to cite your source(s) For detailed grading criteria, refer to the Discussion Rubric.
One difference between ‘perfect competition’ and ‘monopolistic competition’ is that A) there is product differentiation in monopolistic competition. B) there are barriers to entry in monopolistic competition. C) there are barriers to entry in perfect competition. D) there is product differentiation in perfect competition.