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- If the firms in a monopolistically competitive market are earning economic profits or losses in the short run, would you expect them to continue doing so in the long run? Why?Suppose that, due to a successful advertising campaign, a monopolistic competitor experiences an increase in demand for its product. How will that affect the price it charges and the quantity it supplies?explain pure competition monopoly and monopolistic competition under. A. Economic Profit B. Normal Profit C. Minimum Profit D. Maximum Profit
- Imagine that in a certain industry (choose any) monopolistic competition is replaced by monopoly. a. As a result of what can this happen? Describe a possible scenario. b. Using demand, marginal cost, and marginal revenue graphs, show how this decrease in competition will change market prices. Make appropriate comments on the graphs, paying special attention to the direction of changes. c. Describe what changes may occur in the methods of competition if the firm becomes a monopolyA monopolistically competitive firm maximizes profits when it اختر احد الخيارات a. produces the quantity at which marginal cost equals marginal revenue and sets the price equal to the marginal cost b. produces the quantity at which marginal cost equals marginal revenue and uses the demand curve to determine the market price o .c. produces the quantity at which marginal cost equals the market price d. produces the quantity at which marginal cost equals marginal revenue and sets the price equal to the marginal revenuec. Why the demand curve for a firm operating in monopolistic competition is more elastic compared to the firm operating as a monopoly.
- Price ATC Price MC MC ATC MR Quantitytime MA Quantity/time Panel A Panel B Price Price MC MC ATC ATC Quantity/time Quantity/time MR Panel C Panel D Refer to the above figure. A long-run equilibrium in monopolistic competition is pictured by اختر أحد الخيارات .a. Panel A O .b. Panel B .C. Panel D .d. Panel C OPlease refer to the graph below that shows the situation of a monopolistic firm. I. Price, Costs 850 700 550 400 200 I I MR 30 I I 45 If the firm is a single price monopoly, its producer surplus is $ its producer surplus is $___ MC De and Quantity II. If the firm practices perfect price discrimination,Question 1 Please review the graph below. Based on image, this is a a Price P₁ 1 P. monopolistic competitive firm; P2 b natural monopoly; P2 с monopolistic competitive firm; P1 A natural monopoly; P1 QM and will charge a price of MR Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. F E to maximize their profits. ATC MC Demand Qc Quantity
- A. What is monopolistic Output B. What is Monopolistic price C. What is total revenueThe major difference between monopolistic competition and monopoly is a. how the quantity of output is determined. b. only a monopoly can earn an abnormal profit in the long run. c. monopoly is a price taker, and a firm in monopolistic competition is a price maker d. only firms in monopolistic competition are protected by barriers to entryWhich of the following is a characteristic shared by a perfectly competitive firm and a monopoly? Select one: a. Each must lower its price to sell more output. b. Each sets a price for its product that will maximise its revenue. c. Each maximises profits by producing a quantity for which marginal revenue equals marginal cost. d. Each maximises profits by producing a quantity for which price equals marginal cost. e. Each minimises average total cost by producing a quantity for which price equal average revenue