following is not true of a monopolistically competitive firm?   a.  The firm will not likely earn an economic profit in the long run.     b.  The firm will maximize profits

Q: What is true about the price that is charged in the short run by a firm in monopolistic competition?…

A: In monopolistic competition, the firm sells the product at a price when its marginal cost is equal…

Q: Question 2 (i) A bicycle manufacturer expects the price of bicycle to rise in the near future, the…

A: (i)When the bicycle manufacturer expects the price of the bicycles to rise in the economy, it means…

Q: CYou are the manager of a monopolistically competitive firm. The present demand curve you face is P…

A: here we can find the given as follow

Q: Explain why firms operating in monopolistically competitive markets probably will not earn an…

A: The monopolistic competition is a typical market structure within which firms have many competitors,…

Q: put and price (c) Explain how the amount of profit is defined at t

A: Monopolistic competition is an imperfect competition type where there exist many producers which are…

Q: Figure 1 Price Quantity Quantity (c) (d) Price Price MC MC ATC ATC D XV MR Quantity Quantity 12.…

A:

Q: Monopolistically competitive firms in a market face the following demand and costs, where P is…

A: Given; Demand function; Q=200N-P                            P=200N-QTotal Cost; TC=8+Q2

Q: If a monopolistically competitive market became perfectly competitive, output would likely: Choose…

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

Q: Which of the following is different about perfect competition and monopolistic competition? a. In…

A: In perfect competition and monopolistic competition, there are many firms with free entry and exit.

Q: Which of the following markets/commodities is most likely to fall under monopolistic competition?…

A: there is many number of buyers and many sellers.There is product differentiation in this market and…

Q: (Short-Run Profit Maximization) A monopolisticallycompetitive firm faces the following demand and…

A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The…

A: The structure of a market where there are a large number of firms selling products that tend to be…

Q: Draw a diagram to show the long-run equilibrium of a firm in a Monopolistically Competitive market…

A: Under monopolistic competition, the firm will face a downward sloping demand curve as the products…

Q: A fast-food restaurant decides to raise the price of its hamburgers. Assume the firm is in a…

A: In the monopolistically competitive market, the firm faces a downward sloping demand curve and the…

Q: Part a of question attached   b) To achieve productive efficiency, this firm would need to produce…

A: The monopolistic competition is a type of market structure which has innumerable buyers and multiple…

Q: n the graphs below, which one best describes the short-run equilibrium, and which one best describes…

A: In the given graphs:- Basics of equilibrium:- When Marginal Revenue is equal to Marginal Cost and…

Q: Explain the characteristics of monopolistic competition . What are the advantages of this market…

A: The measure that depicts the way in which the classification and differentiation of products and…

Q: Cost and revenue The graph presents the short-run costs and revenue for a monopolistically…

A: A monopolistic competitive firm maximises its profits, he will produce at a price where Marginal…

Q: The cost of producing a tube of tooth paste is $0.05. If the market for tooth paste is…

A: A monopolistic competitive firm maximizes profit by producing at level of output where marginal…

Q: Which of the following is true of the model of monopolistic competition?   a.  Barriers to entry…

A: In Monopolistic competition firms earn positive economic profit in the short run but in the long run…

Q: 3. Monopolistic competition in the short run Consider a shop that produces muffins in a…

A: Monopolistic rivalry happens when an industry has many firms offering items that are comparative yet…

Q: Explain why a monopolistically competitive firm switches from charging a single price to…

A: Introduction Monopoly occurs when there is only one seller of a thing. As Monopolists are fully…

Q: f a monopolistically competitive firm is earning positive economic profit in the short run, then new…

A: In Monopolistically competitive market, the sellers sell differentiated products which are close…

Q: Levi Strauss’ jean is an example of product that is found in ______ market. a. Monopolistic b.…

A: The market structure differ on the basis of different characteristic, i.e. the number of buyers,…

Q: The mobile phone industry is monopolistically competitive, and is described by Diagram A and Diagram…

A: Monopolistic Competition A market where a large number of sellers and buyers and seller sells a…

Q: Which of the following about the relationship between marginal revenue (MR) and price (P) under…

A: In a monopoly, an imperfect competition firm is a large producer in the market, and changes in its…

Q: The major difference between a monopolistic competition and monopoly is, a. monopoly is a price…

A: Monopoly refers to the form of market in which there is only a single seller who selling the unique…

Q: Suppose the monopolistically competitive barber shop industry in a community is in long-run…

A:

Q: explain the output, profit and loss conditions for monopolistically competitive firms. Show your…

A: Equilibrium output: Equilibrium output will occur at the point where the marginal cost and marginal…

Q: ow many of the following statements are true about monopolistic competition at long run equilibrium

A: In Monopolistically competitive market, the sellers sell differentiated products which are close…

Q: In the short run, the price charged by a monopolistic competitor is equal to his marginal cost.…

A: Monopolistic competition refers to a market structure where many firms produce and sell…

Q: A​ fast-food restaurant decides to raise the price of its hamburgers. Assume the firm is in a…

A: A monopolistically competitive industry consists of a large number of small firms that produce and…

Q: monopolistically competitive market

A: Correct option is (A).

Q: if a monopolistic firm takes over a perfectly competitive market we would expect to see the market…

A: In perfect competition largest number of buyers and sellers are selling homogenous goods at single…

Q: The diagram below illustrates a firm under monopolistic competition: (a) Label the curves Curve I,…

A: Under monopolistic competition , there are a few sellers who sell products that are differentiated…

Q: In the long run the selling price of a monopolistically competitive firms product is equal to he…

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

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: ou are hired as a consultant to a monopolistically competitive firm. The firm reports the following…

A: In long run, the firm’s P = ATC. Here, P > ATC. Hence, the firm cannot be in long run…

Q: 3. A monopolistically competitive firm sells boots and has the following in the short run: Demand: P…

A: Monopolistic competition is a market structure in which many sellers sell differentiated products.

Q: Suppose the accompanying graph depicts a monopolistically competitive firm earning positive economic…

A: In a strictly monopolistic model, in the longer term, the monopoly corporation would limit…

Q: Monopolistically competitive firms can earn above-normal economic profits in the short run.

A: answer   Monopolistically competitive firms can earn above-normal economic profits in the short run.…

Q: Monopolistic market structure is characterized by large number of buyers and seller selling close…

A: Market structure refers to the place where the transaction of goods and services takes place between…

Q: The graph below summarizes the demand and costs for a firm that operates in a monopolistically…

A: A monopolistic market is a market where heterogeneous products are available in the market.  There…