Is it possible for monopolistic firms to make supernormal profit/ positive profit in long run? Provide explanation

Q: What is a monopolistic firm? Explain briefly.

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

Q: The accompanying graph depicts average total cost (ATC), marginal cost (MC), marginal revenue (M),…

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

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

A: Given graph

Q: Use the graphs below to answer the question MC MC ATC ATC MR MC (4) MCATC ATC D-MR D-MR A…

A: Meaning of Monopolistic Competition: The term monopolistic competition refers to the situation…

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: Why do monopolistically competitive firms spend funds for the product development and advertising…

A: (Q) Why do monopolistically competitive firms spend funds for the product development and…

Q: Explain monopolistic competition.  How is it similar to perfect competition?  How does it differ…

A: Monopolistic competition is the mixture of Monopoly and competition. It is the market fairly large…

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

A: It is given that the following graph belongs to a monopolistically competitive market that earns a…

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: $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: Draw a digram showing the effect of a new firm entering a monopolistically competitive market. Your…

A: The firms in the monopolistically competitive market produce differentiated goods and services. The…

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: 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: Use the graph below to explain the output, profit and loss conditions for monopolistically…

A: (i) A monopolistically competitive firm sets the price corresponding to the demand curve where MR =…

Q: Suppose that, due to a successful advertising campaign, a monopolistic competitor experiences an…

A: In monopolistic competition markets, there are a large number of firms competing with each other in…

Q: Price, cost, revenue $100 $90 $80 $70 $60 $50 0000 MC MR D 0 7000 14000 21000 12000 Dresses per year…

A: "Monopolistically competitive industry consists of many firms which sell commodities or services…

Q: What is monopolistic competition? 30 words

A: The structure of markets where differentiation and classification are done on basis of competition…

Q: Classify the following markets as perfectlycompetitive, monopolistic, or…

A: Perfect competition is a market structure, which is characterized by a large number of buyers and…

Q: the profit-maximizing output level and profit of a monopolistic firm by drawing a graph give an…

A:

Q: In a monopolistic competitive market, Sara is a dot.com entrepreneur who has established a Web site…

A: Answer Assume demand schedule for Sara’s sweatshirts.   (A) TR = P x Q   MR = Change in TR / Change…

Q: Suppose the figure to the right shows the demand curve for a monopolistically competitive firm. Show…

A: Above given graph is representing the demand for the monopoly market, as shown in the graph it is…

Q: Use the graph below to explain the output, profit and loss conditions for monopolistically…

A: The edited graph is as follows:

Q: You are a consultant to a monopolistically competitive firm. The firm reports the following…

A: Monopolistic competition describes an industry in which a large number of companies sell similar but…

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: 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: What does monopolistic competition have in common with monopoly. Do monopolist need advertisement…

A: Market structure is the business environment that prevails for different types of market industries.…

Q: Consider the diagram below depicting the revenue and cost conditions faced by a monopolistically…

A: Monopolistic competition refers to the competition where the firms produce close substitutes.…

Q: The accompanying graph depicts average total cost (ATC) marginal cost (MC), marginal revenue (M),…

A: Monopolistic market is an example of imperfect competitive market. Some characteristics of this…

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: Nike is a firm in monopolistic competition. If Nike is earning an economic profit from new cross -…

A: A) in perfect competitive market:-   1) in perfect competitive market, there are many number of…

Q: competitive firm's are inherently inefficient Do you agree? Explain.

A: Monopolistic competition is a market where in large number of buyers exist sell homogenous products…

Q: A monopolistically competitive firm will benefit by spending some of its revenues advertising the…

A: Answer: True, Explanation: monopolistically competitive firms produce heterogeneous goods. To…

Q: cceptabl

A: Monopolistic competition is a type of imperfect competition where there are many producers who are…

Q: Draw a diagram illustrating the case of a firm in monopolistic competition making a profit. Label…

A: Monopolistic market is a market structure that is characterized by the presence of a large number of…

Q: The figure below shows a monopolistically competitive market for a fictional brand of shampoo called…

A: In a monopolistic competitive market, profit is maximised at a point where marginal revenue is equal…

Q: [SELECT ONE] The graph below shows data for the production of Christmas hampers for an individual…

A: A monopoly is a market structure where a single firm dominates the market and sells a unique…

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: Answer the attached question

A: Every firm in the monopolistic market structure produces differentiated goods and services from…

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: Open the link below to display a graph of a monopolistic competitive firm. monopo1.jpg 1. The profit…

A: The monopolistic competition is a market type which is characterized by a large number of sellers…

Q: Use the graph below to explain the output, profit and loss conditions for monopolistically…

A: Monopolistic competition is a type of competitive firm where there are many buyers and sellers.  A…

Q: Why is demand curve facing a monopolistic competition firm likely to be more elastic?

A: Price elasticity of demand (PED) is the responsiveness of a percentage change in quantity demanded…