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. Graph 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: Explain the difference between Pure Competition and Pure Monopoly Market!

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Q: What are monopolies and oligopolies? How do they tend to differ from businesses in a market where…

A: Both monopolies and oligopolies are the imperfectly competitive markets. The monopolies are a market…

Q: How are monopolies and monopolistic competitive firms profitable? Use examples

A: Definition: Monopolistic competition is a market structure which joins components of monopoly and…

Q: A market in which there are only a few firms and each is able to influence the market price is…

A: Oligopoly market:   The oligopoly market is the market structure with small number of large seller…

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

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Q: The monopolistically competitive industry is most similar to (answer) in the number of firms and…

A: Monopolistic Competition is an imperfect competition market. Imperfect Competition means having…

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A: a) Monopolist sets the prices and output level where marginal revenue is equal to the marginal cost…

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

A: Answer: A monopoly firm maximizes its profit in the upper or elastic region of the demand curve. It…

Q: Monopolistic competition creates inefficiency because of the Price markups and excess capacity. The…

A: Monopolistic competition is an imperfect market condition which is characterized by the presence of…

Q: Assume that the firm in the short run is earning super normal profit. Explain what will happen to…

A: Monopolistic competition is an imperfect competition where there is a large number of sellers…

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: Explain with the use of a diagram when a monopolistic corporation maximises its profit

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

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

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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: 1.If demand is elastic, the difference between the monopolistic price and the competitive market…

A: For 1) An elastic demand means that quantity demanded is highly responsive to the price level. An…

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Q: Like monopolies, oligopolies may continue to earn economic profit in the long run.   is this true or…

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Q: An effect of government regulation of natural monopolies is to Select an answer and submit. For…

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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…

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A: A monopolistically competitive market is characterized by a large number of small firms that produce…

Q: Productive and allocative efficiency are achieved in a [perfect, monopolistic or oligopoly] market…

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Q: what market inefficiencies derive from monopolies and monopolistic competition?

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

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

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

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Q: Monopolies and Monopolistic Competition   1.Explain which types of market inefficiencies derive…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: ssignment Directions: An oligopolist faces a kinked demand curve.  In your own words, describe why…

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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: 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: 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…

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Q: Draw a diagram depicting a firm that is making a profit in a monopolistically competitive market.…

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

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Q: Draw a diagram depicting a firm that is making a profit in a monopolistically competitive market.…

A: Monopolistic competition refers to an imperfect market structure in which many firms sell products…