does a monopolistically competitive firm have an incentive to produce at the level of output that minimizes the average total cost at the long run equilibrium?  explain with a diagram.

Q: List the three key attributes of monopolistic competition.

A: Monopolistic competition is a market characterized by many firms producing differentiated products.…

Q: For a monopolistically competitive firm, it’s demand curve is ___, and it’s marginal revenue curve…

A: There are different categories of market structure. Perfect competition, monopoly, monopolistic…

Q: Explain why monopolistic competition delivers neither productive nor allocative efficiency.

A: In monopolistic competition, a large number of firms compete with each other in order to share the…

Q: monopolistic competition said to be inefficient?

A:

Q: $100 $90 MC ATC $80 $70 $60 $50 $40 $30 Demand P $20 $10 MR $0 10 20 30 40 50 60 Output (Q) The firm…

A: * SOLUTION :-  The OPTION A is correct answer.

Q: Imagine a scenario in which the fashion industry is suffering from monopolistic price gouging and a…

A: The price gouging is a situation when the firms charge high prices that are unfair. The prices of…

Q: In monopolistic competition, a firm is in long run equilibrium

A: To find : When will be firm in long run equilibrium.

Q: How to find the inverse demand function of a monopolistically firm?

A: Monopolistic competition is a kind of market structure in which there are several numbers of…

Q: Refer to the graphic above. The output produced in this market (Monopolistic) is ____ units, while…

A: A monopolist produces at intersection of MR and MC curves (since MR = MC), while a competitive firm…

Q: What are the main characteristics of a monopolistically competitive firm? Explain.

A: Monopoly market structure is a single seller market structure. The characteristics of a monopolistic…

Q: Suppose a monopolistically competitive firm sells a particular brand of jeans. The quantities of…

A: Output Price 0 110 1 105 2 100 3 95 4 90 5 85

Q: Baranby Inc produces in a monopolistically competitive market. Which of the following correctly…

A: The monopolistically competitive market would have characteristics of both the monopolistically…

Q: Give an example and explain the profit-maximizing output level and profit of a monopolistic firm by…

A: Monopoly being the single seller in a market, in the market for Windows Operating System, its seller…

Q: Refer to Figure#3. With respect to a monopolistically competitive industry, which of the diagrams…

A: Expansion of a market, with new companies/firms, will show adverse impacts on the firms that are…

Q: If new firms enter a demand curve will monopolistically competitive industry, an individual firm's…

A: Monopoly refers to the market economy where only one firm enjoys the market power. It sets the…

Q: Assume a monopolistic publisher has agreed to pay an author 15 percent of the total revenue from the…

A: No, the publisher and the author will not charge the same price. In the case of the situation, the…

Q: Which of the following conditions does NOT describe a firm in a monopolistically competitive market?…

A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers…

Q: Is a monopolistically competitive firm productively efficient? Is it allocatively efficient? Why or…

A: Monopolistic competition is a kind of imperfect market structure where there is large number of…

Q: In a perfectly competitive market, the demand curve is the marginal revenue curve. Is this the case…

A: Monopolistic competition is one of the imperfect competition with large number of producers selling…

Q: Describe the three attributes of monopolistic competition. How is monopolistic competition like…

A: Monopolistic competition is a system of the market that incorporates monopoly characteristics with…

Q: In the figure below, the profit maximizing quantity for the monopolistic competitor is MC ATC Price…

A: Profit maximizing quantity for the monopolistic competitor is at the point where marginal revenue is…

Q: In the model of monopolistic competition, compared to a firm with higher productivity, a firm with…

A: Monopolistic competition: - monopolistic market structure is the structure in which there is a large…

Q: In the long run, the positive economic profits earned by the monopolistic competitor will attract a…

A: A monopolistically competitive market is characterized by a large number of small firms that produce…

Q: Which type of a firm, monopolistically competitive or a monopoly, will have a greater incentive to…

A: A monopolistically competitive market comprises of many sellers supplying similar but differentiated…

Q: Define monopolistic competition.

A: Market structure: It is the nature and degree of competition in the market for goods and services.…

Q: Would a company selling in a monopolistic competitive market potentially produce a product with a…

A: A Monopolistically competitive firm potentially produces at a point where the Marginal Cost is equal…

Q: Why can’t firms under monopolistic competition achieve an economic profit in the long run?

A: The gap among the income gained from the selling of an item and the prices of all products included,…

Q: If the price is less than actual total cost for a monopolistic competitive firm, does the firm make…

A: Usually a monopolistic competitive firm can be able to make abnormal profit or loss in the short run…

Q: Will there be profits in the long run in a monopolistically competitive market? Explain your answer.

A: The market refers to a place where the buyers, and sellers interact. In a market, the buyers…

Q: What is true of a monopolistically competitivemarket in long-run equilibrium?a. Price is greater…

A: The monopolistically competitive market is mixture of monopoly and perfect competition. There are…

Q: How is the perceived demand curve for a monopolistically competitive firm different from the…

A: The demand curve is defined as the relation between the quantity demanded and the price level. It…

Q: WataDine is one of a city’s many restaurants that serve breakfast, lunch, and dinner in a…

A: Monopolistic competition is a model of the market in which several enterprises compete with one…

Q: Provide an example of an industry that is monopolistically competitive. Regarding average total cost…

A: In a perfectly competitive market, there is a number of buyers and sellers, selling similar…

Q: How does the short run differ from the long run in a monopolisticallycompetitive market?

A: A form of inconsistent competition is monopolistic competition so that multiple suppliers market…

Q: An important difference between the situation faced by a profit-maximizing monopolistically…

A: Firms in the monopolistic market structure there exists a large number of firms competing with each…

Q: Monopolistically competitive firms could increase the quantity they produce and potentially lower…

A: Profit maximization condition of a monopolistically competitive firm is where, MC = MR. so, they try…

Q: Why this is true "When monopolistically competitive firms make a profit in the short​ run, ,then in…

A: There are many firms in the monopolistically competitive market. The products are differentiated in…

Q: Give an example of a market that has monopolistic competition and explain how the example you have…

A: Monopolistic competition is a kind of market structure where there are several competitors on the…

Q: “Monopolistic competition is monopolistic up to the point at which consumers become willing to buy…

A: A monopolistically competitive market is the one which has a large number of sellers who use…

Q: Will there be profits in the long run in a monopolistically competitive market?

A: A monopolistically competitive market is the market structure in which characteristics of both a…

Q: why is a firm in a monopolistic competition said to be competive?in what sense is hat firm…

A: Monopolistic competition refers to a market structure where the producers offer differentiated…

Q: Determine long run equilibrium in a monopolistic competition.

A: In a monopolistic market structure there exists a large number of sellers of the goods in the market…

Q: Use a set of graphs to demonstrate how a profit-maximizing monopolistically competitive firm…

A: Answer - Need to find - Use a set of graphs to demonstrate how a profit-maximizing monopolistically…

Q: "A monopolistically competitive market in which there are no entry barriers will have the identical…

A: A perfect competition is a structure of a market in which there are many sellers and buyers. The…