which of the following characterizes monopolistic competition
Homework Answers
Which of the following characterizes monopolistic competition
Answer - a. Many firms, each producing a particular version of a product.
Monopolistic competition market is a market structure where there will be many number of firms and the firms selling differentiated products. The products are different in taste, colour, brand, etc. The product will be same but with many versions.
The demand curve of a monopolistically competitive firm is
Answer- d. Downward sloping
The firms faces downward sloping demand curve. The firms are having the right to fix their price and output. This is because they have the market power and to sell more they have to reduce the price.
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Question Completion Status: QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing...
Question Completion Status: QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product. Many firms selling an identical product. O A few firms, each producing a particular version of a product. O A few firms controlling the entire market. QUESTION 2 The demand curve faced by a monopolistically competitive firm is: flat. kinked. O upward-sloping. Odownward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
Which of the following is not a type of market structure? A. monopolistic competition. B. perfect...
Which of the following is not a type of market structure? A. monopolistic competition. B. perfect competition. C. monopolistic oligopoly. D. monopoly
QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version...
QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product O Many firms selling an identical product O A few firms, each producing a particular version of a product O A few firms controlling the entire market QUESTION 2 The demand curve faced by a monopolistically competitive firm is O flat kinked. O upward-sloping O downward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
QUESTION 1 Which of the following is not a characteristic of the monopolistic competition market structure?...
QUESTION 1 Which of the following is not a characteristic of the monopolistic competition market structure? Many sellers, each small in size relative to the overall market. Few sellers. Differentiated product. Easy, low-cost entry and exit. QUESTION 2 Which of the following is the best example of a monopolistic competitor? Wheat farmers. Restaurants. Air Canada. General Motors. QUESTION 3 In the long run, both monopolistic competition and perfect competition result in: a wide variety of brand-name choices for consumers. an...
Which of the following is a typical feature of monopolistic competition? Question 4 0.25 pts 5....
Which of the following is a typical feature of monopolistic
competition?
Question 4 0.25 pts 5. Which of the following is a typical feature of monopolistic competition? . A firm's main strategy is to make its products different from its competitors' Successful collusion with other firms of the market is essential for making profit In the long run, each firm produces at its MES The entering of new firms stops only when the accounting profit becomes zero
Which of the following industries is an example of monopolistic competition? est O A. newspapers in...
Which of the following industries is an example of monopolistic competition? est O A. newspapers in your town OB. audio and video equipment O c. hydroelectric distribution OD. wheat
A. Discuss the characteristics of monopolistic competition
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.
Monopolistic competition is like perfect competition in that they both: put labels on their products. have...
Monopolistic competition is like perfect competition in that they both: put labels on their products. have numerous competitors. make zero economic profit in the short run. erect barriers to entry. It is easy to enter and exit from which of the following industrial structures? monopoly oligopoly monopolistic competition natural monopoly
Which of the following conditions distinguishes monopolistic competition from perfect competition?
Which of the following conditions distinguishes monopolistic competition from perfect competition? a. the number of sellers in the market b. the freedom of entry and exit by firms in the market c. the size of firms in the market d. product differentiation A monopolistically competitive firm chooses its a. price and quantity just as a monopoly does. b. quantity but faces a horizontal demand curve just as a competitive firm does. c. price but can sell any quantity at the market price just as an oligopoly does. d. price...
Which of the following best describe benefits of monopolistic competition over perfect competition? I. More variety...
Which of the following best describe benefits of monopolistic competition over perfect competition? I. More variety of products for the consumers II. Incentivizes innovation III. Products offered are exact substitutes for one another A. I, II, and III B. II and III only C. I and II only
Question Completion Status: QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product. Many firms selling an identical product. O A few firms, each producing a particular version of a product. O A few firms controlling the entire market. QUESTION 2 The demand curve faced by a monopolistically competitive firm is: flat. kinked. O upward-sloping. Odownward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
QUESTION 1 Which of the following characterizes monopolistic competition? Many firms, each producing a particular version of a product O Many firms selling an identical product O A few firms, each producing a particular version of a product O A few firms controlling the entire market QUESTION 2 The demand curve faced by a monopolistically competitive firm is O flat kinked. O upward-sloping O downward-sloping QUESTION 3 Without a product differentiation, the demand curve for a monopolistically competitive firm would...
Which of the following is a typical feature of monopolistic
competition?
Question 4 0.25 pts 5. Which of the following is a typical feature of monopolistic competition? . A firm's main strategy is to make its products different from its competitors' Successful collusion with other firms of the market is essential for making profit In the long run, each firm produces at its MES The entering of new firms stops only when the accounting profit becomes zero
Which of the following industries is an example of monopolistic competition? est O A. newspapers in your town OB. audio and video equipment O c. hydroelectric distribution OD. wheat
Monopolistic competition is like perfect competition in that they both: put labels on their products. have numerous competitors. make zero economic profit in the short run. erect barriers to entry. It is easy to enter and exit from which of the following industrial structures? monopoly oligopoly monopolistic competition natural monopoly
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