List four goods or services produced by an oligapolist that you have purchased. Why are these markets oligopolistic rather than monopolistically competitive?

Q: What are the differences between the two market structures of monopolistic competition and monopoly?…

A: Four different types of market structures in an economy are perfect competition, monopoly,…

Q: Describe the characteristics of a firm in a monopolistically competitive industry and that of an…

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

Q: For each of the following, is the industry perfectly competitive? If not, is it a monopoly,…

A: The market for carrots is perfectly competitive as farm markets are usually perfectly competitive…

Q: Which of these businesses are in monopolistic competition? Two clothing shops, one selling…

A: A monopolistic competition is a combination of monopoly market and perfectly competitive market. In…

Q: monopolistic competition said to be inefficient?

A:

Q: Describe the types of inefficiencies that derive from monopolistic competition.

A: Market structure in an economy can be defined as the organizational characteristics of a market.…

Q: 47. In which of the following industry structures is the entry of new firms the most difficult? a.…

A: When the price rises, new firms seek to enter the industry because high price implies higher…

Q: Does a monopolistic competitive produce too much or too little output compared to the most effective…

A: Monopolistic competition refers to an imperfect market structure in which many firms and buyers. The…

Q: An industry said to be characterized by monopolistic competition is the apparel industry. Suppose…

A: A monopolistic industry is one in which a large number of businesses compete for the same (but not…

Q: Which of the following markets would have the least amount of concentrated power? Oligopolistic…

A: Market concentration is a measure that indicates the decision making power that small firms have in…

Q: classify the following product markets in their respective industry structures using the appropriate…

A: The given products need to be differentiated based on the type of market structure they fall in.

Q: Why do firms in monopolistic competition have market power? Group of answer choices Firms in…

A: Monopolistic competitive firms sell similar but slightly differentiated goods. If consumers prefer…

Q: Which of the following is NOT an example of monopolistic competition? Group of answer choices…

A: A monopolistically competitive market is considered aa a common market form according to the…

Q: What is monopolistic competition characterized by? too few firms, each producing too much too many…

A: In monopolistically competitive market, the sellers sell differentiated produces which are close…

Q: Which of the following are features of monopolistic competition? Choose all that apply.   a.…

A: There are different market structures, each with different characteristics. One such structure is…

Q: If one were to discuss why the term "monopolistic competition" is used, the best description would…

A: Out of the 4 market structures one of the market structure is the Monopolistic competition.

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

A: The price-taker is a highly competitive market. The demand curve is horizontal and thus the…

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: List three key attributes of monopolistic competition.Draw and explain a diagram to show the…

A: Monopolistic Market: The market in which many firms exist and these firms sell closely related but…

Q: Which of the following statements is true about the difference between monopoly and monopolistic…

A:

Q: Economists recognize all of the following market types except ________. Select one: a.…

A: Economists recognize and classify the markets into four categories, they are given below: A market…

Q: An industry comprised of a small number of firms, each of which considers the potential reactions of…

A: If the industry consists of a small number of firms each having a potential reaction of its rivals…

Q: Answer all four questions! Is a monopolistically competitive firm productively efficient? How can…

A: Note:- Since we can only answer up to three subparts, we'll answer the first one, Please repost the…

Q: What is the difference between a monopolistically competitive industry and a monopoly? Multiple…

A: A monopoly refers to a sole seller of a good or service which does not have any close substitutes. A…

Q: Due to a successful advertising campaign, a monopolistic competitor experiences an increase in…

A: The advertising campaign will attract new customers. Therefore, the firm’s demand curve will shift…

Q: In the long run, monopolistically competitive firms produce a level of output such that:

A: In the long run firms have complete freedom to enter and exit the monopolistic market. And they can…

Q: Which of these markets is most likely to be identified as monopolistic competition?   Group of…

A: In case of monopolistic competition many firms offer the goods that are not that similar. (a) Shoes-…

Q: Which of the following is an example of a monopolistically competitive industry A.…

A: (C)

Q: Which of the following statements is true about the difference between monopoly and monopolistic…

A: A monopoly business model is what is going on where there is a solitary vendor on the lookout. In…

Q: Consider the following two industries the yogurt and automobile industry. Which industry would fit…

A: A place where the buyers interact with sellers and determine the mutually agreeable price level at…

Q: Which of the following market types are allocatively efficient?   Question    Monopoly…

A: In economics, market structure refers to how different industries are classed and distinguished…

Q: Define the following Perfect Competition Monopoly Monopolistic Competition Oilgopoly

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Compare and contrast the way that monopolistic competitors set price with the way that perfectly…

A: In general equilibrium theory, "perfect competition," sometimes known as "atomistic competition," is…

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: 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: 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.…

Q: Which of the following is not characteristic of long-run equilibrium under monopolistic competition?…

A: The monopolistic market competition where there is a large number of sellers selling little…

Q: In a long-run equilibrium, monopolistically competitive firms produce where:     A). marginal cost…

A: Monopolistic competition(MC) is an arrangement of the market which have features of both a…

Q: In the long run, the economic profits for a monopolistically competitive firm will be Multiple…

A: Long run: It means a period of time in which all factors of production and costs are variable.

Q: Monopolistically competitive firm's are similar to monopolies in that they are able to earn economic…

A: Monopoly is a market structure where in there is only one single firm and there are heavy barriers…