Monopolies can maintain economic profits in the short and long run because of barriers to entry which prevent competitors from entering the market.  A Monopolistic Competition market does not have barriers to entry, so firms are free to enter and leave the market.  This creates a situation where there is a long and short run similar to perfect competition. Google search images and find images of graphs. To earn full credit your graphs must include the following: A graph showing: short run economic profit A graph showing: short run economic loss A graph showing: long run - normal profit (economic profit equal to zero)

Q: A product market has only one seller.. There are no close substitutes for the product. What type of…

A: In Economics, different market types are determined based on various factors like the nature of…

Q: Monopolistic competition is a market structure that has elements like ... Group of answer choices…

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

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

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

Q: Monopolistic competition refers to a market where many firms sell differentiated products.…

A: Monopolistic competition is where there exists a large number of sellers selling differentiated…

Q: monopolist, as opposed to a company in a perfectly competitive market:

A: Perfect competition market ;- where large numbers of sellers and buyers exist and exchange…

Q: Why do barriers to entry matter in monopoly? There are never barriers in monopoly markets. Barriers…

A: Monopoly is a single firm in the market producing a unique good.

Q: Barriers to entry may allow monopolies to earn positive economic profit in the long run prevent a…

A: Barriers to entry is that feature of a market which makes it difficult for new firms to enter the…

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: is an organization created a formal agreement between a group of producers of a good or service, to…

A: Cartel is an organization created a formal agreement between a group of producers of a good or…

Q: If you were a manager, in charge of a firm in a duopoly, how would you figure out what to charge for…

A: Duopoly is a market situation where there are only two sellers in the market selling identical…

Q: Competitive/free market offer (Polypolic) There are enough producers of the same item that market…

A: Market is the physical or virtual place where buyers and sellers interact and exchange goods and…

Q: The reason monopolies are inefficient for society is because monopolies: options: 1.Create no…

A: Monopoly is a single firm in the market producing unique good.

Q: Economics Describe two of the factors that make up monopolies.

A:

Q: If there are many sellers,which kind of market is that? a)Oligapoly b)Monopolistic competition…

A: There are different types of market structures in an economy: 1) Monopoly 2) Monopolistic…

Q: Why are monopolies for the most part illegal?

A: Monopoly Market: Monopoly market refers to the market situation where a single firm enjoys the…

Q: Choose the false statement. 1) Patents are a reason for monopolies to exist. 2) Network effects…

A: Introduction: Profit maximization is a process that businesses go through in order to obtain the…

Q: rtels are the group that is created by the firms in the market to gain control over the prices and…

A: Cartel is when multiple firms conspire to optimize the quantity and thus keep prices in a range band…

Q: What are the three reasons that a market might have a monopoly? Give two examples of monopolies and…

A: A monopoly is a sole producer of a good in the market thus acting as a price maker.

Q: how monopolists in the Philippines are being regulated by the government.

A: When a single company dominates the entire market, it is called a monopoly. The terms "company" and…

Q: Concentration ratios that fall in the range of 20 to 40 percent are common for monopolistic…

A: In a market, concentration ratio is used to analyze the market power or market share of a specfiic…

Q: Explain why it is not possible for a monopoly firm to maximize its profits by charging a price in…

A: >A monopoly is a profit maximizer. It is the only seller in the market selling the good with no…

Q: Monopolistic markets tend to operate with some excess capacity. Explain

A: Excess capacity refers to the difference between the optimum output and the actual output produced…

Q: Monopolistic competition has which drawback compared to a monopoly?

A: From the side of consumer monopolistic competition is always better than monopoly but in case of…

Q: What is monopolistic competition? Give a real-life example which follows the pattern very closely.

A: Monopolistic competition is one of the 4 main market structures which are:- Perfectly competitive…

Q: Monopolies can maintain economic profits in the short and long run because of barriers to entry…

A: Monopolistic competition is a market structure where large number of sellers exist to produce…

Q: Which of the following are examples of government run monopolies? Choose all that apply.

A: ANSWER   the following are examples of government run monopolies   a) Standard Oil -   it was an…

Q: This graph shows a monopolistic competitor   Group of answer choices   in the short run breaking…

A: Monopolistic competition: The monopolistic competition is a market structure which is characterized…

Q: “Monopolies always produce less and charge higher prices for goods which are often of dubious…

A: A monopoly occurs when one person or company is the sole seller of a given commodity. A monopsony…

Q: Monopolies can maintain economic profits in the short and long run because of barriers to entry…

A: If average total cost (ATC) is below the market price in this case $550, then the firm will earn an…

Q: A monopoly, unlike a perfectly competitive firm, has some market power. Thus, it can raise its…

A: There are certain factors that helps a firm to maintain its market power. It may include economies…

Q: Economics what are the benefits and drawbacks to monopolies. Is Google Facebook Amazon considered a…

A: Monopoly is a single market. Where seller charge price of his/her choice. There are several benefits…

Q: Monopolistic competitive firms' profit maximization decision a perfectly competitive firm. a…

A: Profit: Profit is the amount that a firm earns after subtracting all its expenses from total…

Q: Monopolies can maintain economic profits in the short and long run because of barriers to entry…

A: In a monopolistic competitive market, there is a number of sellers, selling similar but not…

Q: Monopolies can maintain economic profits in the short and long run because of barriers to entry…

A: 1. Monopolistic competition is a market structure where large number of sellers exists to produce…

Q: Identify a monopoly that you have recently consumed. Explain why you selected it as a monopoly and…

A: Answer: We are granted a computer project recently and that the few stationary including gums are…

Q: What is the prisoner's dilemma? the game that demonstrates the basic problem facing noncolluding…

A: Market is a place where buying and selling of goods and services takes place. Prisoner's Dilemma is…

Q: true or false Natural monopolies are regulated by government agencies.

A: The monopoly is the type of market structure where there are large number of buyers but there is…

Q: . In the long run, profit maximizing monopolies make A. zero economic profit. B. positive economic…

A: The answer is - D. positive or zero economic profit.

Q: Which of the following, in your view, is the BEST example of a NATURAL monopoly. Note some of these…

A: Monopoly Market: The situation of the market where only single sellers exist in the market and there…

Q: Monopolies always produce less and charge higher prices for goods which are often of dubious…

A: What exactly is a Monopoly game?A monopoly is a market in which there is only one supplier but…

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…