Homework Answers
Answer for question 42 - true.
One of the characteristics of monopolistic competitive market is that there are no barriers to entry. So any new firm can enter the monopolistically competitive market.all products are differentiated in this market conditions. Hence the statement is true.
Add Answer to:
Question 42 New firms are able to enter monopolistically competitive markets because there are low barriers...
In the short run, low barriers to entry and exit allow new entrants into a monopolistically...
In the short run, low barriers to entry and exit allow new entrants into a monopolistically competitive market. False or True
Low barriers to entry and exit mean that in the ________ run for monopolistically competitive firms,...
Low barriers to entry and exit mean that in the ________ run for monopolistically competitive firms, it is ________ to generate economic profit. long; possible short; possible long; likely long; impossible short; impossible
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be su...
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and monopoly industries? a. MR P b. P-min(ATO c MR-MC e. P> MR 9. The reason that the coffeehouse market is monopolistically competitive rather than perfectly competitive is because a, entry into the market is blocked b. there are many firms in the market. Os C barriers to entry are very low d. products are differentiated. 10. The "Discount Department Stores" industry is highly concentrated....
In the long run, firms in monopolistically competitive markets operate O A. at optimal capacity because...
In the long run, firms in monopolistically competitive markets operate O A. at optimal capacity because they have perfectly elastic demand curves O B. with excess capacity because they face downward-sloping demand curves. O c. with excess capacity because they face perfectly elastic demand curves. OD. at optimal capacity because they face downward-sloping demand curves The figure to the right depicts the short run outcome for a firm in a monopolistically competitive industry To maximize profits this for should produce...
The Prisoner's Dilemma utilizes game theory to explain behavior of firms in: Markets characterized by natural...
The Prisoner's Dilemma utilizes game theory to explain behavior of firms in: Markets characterized by natural monopoly. Monopoly markets. Perfectly competitive markets. Monopolistically competitive markets. Oligopoly markets At 500 units of output, total costs = $50,000 and total variable cost = $5,000. What does average fixed costs (ATC) equal at 500 units? $45,000 $50. $100. $90. Statement 1: Marginal cost pricing occurs when the market price of a good is equal to the marginal cost of the last unit of...
In the long run firms in monopolistically competitive markets operate O A. with excess capacity because...
In the long run firms in monopolistically competitive markets operate O A. with excess capacity because they face downward-sloping demand curves. O B. at optimal capacity because they have perfectly elastic demand curves. O c. with excess capacity because they face perfectly elastic demand curves. D. at optimal capacity because they face downward-sloping demand curves. In the long run, firms in monopolistically competitive markets operate O A. with excess capacity because they face downward-sloping demand curves O B. at optimal...
Question 1 A monopolistically competitive industry has all of the following characteristics except there are no...
Question 1 A monopolistically competitive industry has all of the following characteristics except there are no barriers to entry. strategic behavior. product differentiation, a large number of firms. Question 2 In a monopolistically competitive industry, firms are large relative to the total market. firms are small relative to the total market. firms can be either large or small relative to the total market. there is only one firm. Question 3 Product differentiation can be used by firms to do all...
26) There are significant barriers to entry in monopolistically competitive industries. a. True b. False 27)...
26) There are significant barriers to entry in monopolistically competitive industries. a. True b. False 27) Firms under monopolistic competition produce goods that are: a. Commodities b. Standardized products C. Differentiated products d. Inferior goods
Which of the following is not a characteristic of a monopolistically competitive market structure? A.) Each firm...
Which of the following is not a characteristic of a monopolistically competitive market structure? A.) Each firm must react to actions of other firms. B.) There are low barriers to entry of new firms. C.) There is a large number of independently acting small sellers. D.) All sellers sell products that are differentiated.
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
8. Which of the following is true for profit-maximizing firms in perfectly competitive, monopolistically competitive, and monopoly industries? a. MR P b. P-min(ATO c MR-MC e. P> MR 9. The reason that the coffeehouse market is monopolistically competitive rather than perfectly competitive is because a, entry into the market is blocked b. there are many firms in the market. Os C barriers to entry are very low d. products are differentiated. 10. The "Discount Department Stores" industry is highly concentrated....
In the long run, firms in monopolistically competitive markets operate O A. at optimal capacity because they have perfectly elastic demand curves O B. with excess capacity because they face downward-sloping demand curves. O c. with excess capacity because they face perfectly elastic demand curves. OD. at optimal capacity because they face downward-sloping demand curves The figure to the right depicts the short run outcome for a firm in a monopolistically competitive industry To maximize profits this for should produce...
The Prisoner's Dilemma utilizes game theory to explain behavior of firms in: Markets characterized by natural monopoly. Monopoly markets. Perfectly competitive markets. Monopolistically competitive markets. Oligopoly markets At 500 units of output, total costs = $50,000 and total variable cost = $5,000. What does average fixed costs (ATC) equal at 500 units? $45,000 $50. $100. $90. Statement 1: Marginal cost pricing occurs when the market price of a good is equal to the marginal cost of the last unit of...
In the long run firms in monopolistically competitive markets operate O A. with excess capacity because they face downward-sloping demand curves. O B. at optimal capacity because they have perfectly elastic demand curves. O c. with excess capacity because they face perfectly elastic demand curves. D. at optimal capacity because they face downward-sloping demand curves. In the long run, firms in monopolistically competitive markets operate O A. with excess capacity because they face downward-sloping demand curves O B. at optimal...
Question 1 A monopolistically competitive industry has all of the following characteristics except there are no barriers to entry. strategic behavior. product differentiation, a large number of firms. Question 2 In a monopolistically competitive industry, firms are large relative to the total market. firms are small relative to the total market. firms can be either large or small relative to the total market. there is only one firm. Question 3 Product differentiation can be used by firms to do all...
26) There are significant barriers to entry in monopolistically competitive industries. a. True b. False 27) Firms under monopolistic competition produce goods that are: a. Commodities b. Standardized products C. Differentiated products d. Inferior goods
Most questions answered within 3 hours.
-
If a customer places a buy order for one millisecond only on an
electronic limit order...
asked 3 minutes ago -
An aqueous solution of perchloric acid is
standardized by titration with a 0.101 M solution
of...
asked 12 minutes ago -
Huckster Corporation purchased land on January 1, 20X1, for
$24,000. On June 10, 20X4, it sold...
asked 9 minutes ago -
A 2400-kg airplane pulls two gliders, the first of mass 330 kg
and the second of...
asked 21 minutes ago -
When I have a regression equation such as Y = beta 0 + beta 1 X...
asked 25 minutes ago -
1) Describe how the firm, Google is organized. a. Note the
formal structure (Organizational Charts); also...
asked 31 minutes ago -
Q 1 Give a numerical example of non routine decision,
Determine the relevant costs for this...
asked 32 minutes ago -
A car moving at 87 km/h has tires of 76 cm diameter. If the
vehicle comes...
asked 48 minutes ago -
Most of the galaxies in the universe are observed to be moving
away from Earth. Suppose...
asked 50 minutes ago -
Paired research designs, also sometimes referred to as repeated
measures designs, are associated with some common...
asked 49 minutes ago -
You working as a clinical engineer dealing with
autoclaves, xrays and life care machines, in what...
asked 52 minutes ago -
Explain in detail (not just enumerate) each of Koch’s
postulates to determine the etiology of a...
asked 1 hour ago