Explain any four features of the monopolistic competition in the economy

Q: Suppose that a firm produces wool jackets in a monopolistically competitive market. The following…

A: Both monopoly and monopolistic competitive market earn zero economic profit in the long run because…

Q: Compare the elasticity of the monopolistic competitor’s demand with that of a pure competitor and a…

A: Being the only seller in the market, a monopolist holds the entire market dominance as there are no…

Q: All imperfect competitors; pure monopoly, oligopoly, and monopolistic competition face downward…

A: The two broad categories of market forms namely perfect and imperfect competition differ largely on…

Q: Compare the elasticity of the monopolistic competitor’s demand with that of a pure competitor and a…

A: A monopolistic competitor's demand curve slopes downward which highlight that the competitor will…

Q: Describe the nature of the goods produced by a Monopolistic competitive firm.

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: What are some characteristics of a monopolistic competition and the number of firms (a few, one,…

A: Monopolistic competition exists where there are many firms that offer goods and services that are…

Q: Give an example of an industry with monopolistic competition. (Remember that this is an industry…

A: Monopolistic competition is when there are large number of sellers and buyers in the market, and the…

Q: Describe the nature of the goods produced by a monopolistically competitive firm.

A: Monopolistic competition describes a market in which a large number of companies compete for the…

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

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

Q: Why is it difficult to regulate a monopolistically competitive market to increaseefficiency?

A: Different forms of market structures differ in their level of competitiveness, ranging from highly…

Q: Which of the following conditions does NOT describe afirm in a monopolistically competitive…

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

Q: The larger the number of firms in a monopolistic competition situation:

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: What is Monopolistic Competition market structure – its main features

A: A monopolistic competitive industry is an industry where there are many buyers and sellers in the…

Q: What is the advantages of perfect competition in its rivalry - - the monopolistic competition?

A: Perfect Competition is the market structure involving larger number of buyers and sellers selling…

Q: Suppose that a firm produces wool jackets in a monopolistically competitive market. The following…

A: Firms working under monopolistic competition vary from perfectly competitive firms. The item they…

Q: Identify the price that a firm will set in a competitive market and the price a firm would set in a…

A: Perfect competition is a market structure in which a large number of sellers sell homogeneous…

Q: what are four differences and three similarities between the monopoly and monopolistic market…

A: There are four types of market namely perfect competition, monopoly, oligopoly, and monopolistic…

Q: Consider the monopolistically competitive market structure, which has some features of a competitive…

A: Attributes Competitive Market Monopolistically competitive Market Free entry     Many Sellers…

Q: Explain with the aid of a diagram, the short run equilibrium position of a firm operating in the…

A: Monopolistic Competition: In this market, there are a number of buyers and sellers selling…

Q: Show the possible effect of this free entry and exit by shifting the demand curve for a typical…

A: Solution:- 1st Part)  ▪︎Firm's are not price takers- True Explanation- If there is perfect…

Q: Illustrate and explain how equilibrium is achieved in a monopolistic competition market structure.

A: The markets are considered to be of utmost importance for the growth, as well as development of the…

Q: Consider the long-run equilibrium with monopolistic competition. Do you consider it to be efficient…

A: Concept: A monopolistic competition is a market where there are large number of buyers and sellers…

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

A: A market refers to a place where buyers and sellers can meet to facilitate the exchange or…

Q: Monopolistic firms are price takers, face a downward sloping demand curve and marginal revenue and…

A: Monopolistic competition is most common form of market observed in real world. There are large…

Q: Define monopolistic competition.

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

Q: Make a case for why monopolistically competitive industries never reach long-run equilibrium.

A: Monopolistic competition is an imperfect competition prevailing in the market which provides…

Q: The following graph shows the marginal-cost (MC) curve and the average-total-cost (ATC) curve for a…

A: A monopolistically competitive market structure is one where there are large number of small firms…

Q: Explain five types of pricing strategies adopted in the monopolistic competition market structure

A: 5 types of pricing strategies in monopolistic competition market. Competition based pricing Cost…

Q: What are the assumptions of a Monopolistic Competition market structure? Briefly distinguish the…

A: An industry in monopolistic competition is one composed of an enormous number of little firms who…

Q: A monopolistically competitive firm in a long-run equilibrium will likely produce which of the…

A: A monopolistically competitive firm in a long run equilibrium will likely produce less than a…

Q: Consider a monopolistically competitive market with NN firms. Each firm's business opportunities are…

A: As N rises, the demand for each firm's product: rise or fall ? We have  Q = 100N - P As N increases,…

Q: Which of the following is least likely to be an example of monopolistic competition in the U.S. O…

A: The markets are considered to be the place of interaction, and meeting of the buyers, and sellers.…

Q: Consider a monopolistically competitive market with N firms. Each firm's business opportunities are…

A: Q=100/N-P MR=100/N -2Q TC = 50 + Q2 MC= 2Q

Q: What are the major characteristics of a firm competing under conditions of monopolistic competition?

A: The monopolistic market is a blend of monopoly and perfect competition. The major characteristics of…

Q: The theory of monopolistic competition explains economic behaviour in industries in which there are…

A: Answer: In monopolistic competition, there are many firms selling differentiated products. Since the…

Q: Explain the equilibrium of a firm under monopolistic competition.

A: Monopolistic competition describes an industry in which a large number of enterprises compete for…

Q: Describe three possible barriers to entry that may be used to maintain monopolistic conditions in an…

A: Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Q: Under conditions of monopolistic competition, firms may pursue a strategy of product…

A: Product differentiation: - Product differentiation is a market technique of making any product…

Q: Refer to Figure#5. The output produced by a typical firm is less than what would occur at the…

A: Firms in Monopolistic Compretition has excess capacity. In the long run the firms in monopolistic…

Q: Describe the three attributes of monopolistically competitive markets.

A: Monopolisticaly Competitive Market are mid way of perfect competition and monopoly market.…

Q: The demand curve facing a firm in a monopolistically competitive market is more elastic than one…

A: True Elasticity of demand is affected by the number of close substitutes available in the market.…