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: In the long run monopolistically competitive firms are inherently inefficient. do you agree? explain
A: Monopolistic competition is a market structure where many producers sell differentiated goods.…
Q: An example of a firm in monopolistic competition is O A. Shaniq, a wheat farmer. O B. the many…
A: Monopolistic competition is a market structure in which there are several huge sellers, each of whom…
Q: Which of the following is not a differenče between perfect competition and monopolistic competition?…
A: Answer: Correct option: option 2 (Long-run economic profit) Explanation: Long-run economic profit is…
Q: Figure 1 Price Quantity Quantity (c) (d) Price Price MC MC ATC ATC D XV MR Quantity Quantity 12.…
A:
Q: 50 ATC 40 30 20 10 MC MR Demand 20 30 40 50 60 70 80 80 100 10 QUANTITY (Thousands of engines)…
A: Monopolistic competition is an imperfect form of competition in which many producers sell products…
Q: In both perfectly competitive and monopolistically competitive markets, when firms are making…
A: Perfect competition is a market form where there is free entry and exit of the firms, the firms are…
Q: Explain the difference between Monopolistic Competition and Perfect Competition? ( through…
A:
Q: Please complete the following sentence. Monopolistic competition and perfect competition differ…
A: Monopolistic and Perfect Competition have similar features but are different. Monopolistic…
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: 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: 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 an assumption of the model of monopolistic competition? O Consumers lack adequate…
A: Monopolistic competition is one of the imperfect competition with a large number of buyers and…
Q: The difference between monopolistic competition and perfect competition
A: Answer to the question is as follows :
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: When firms are operating in a monopolistic competitive market,then ..
A: This is an imperfect type of competition. In this type of competition many producers in the market…
Q: Eh of the following sellers is most likely to be selling in a monopolistically competitive market?…
A: In monopolistic competition, product differentiation occurs which means goods of each firm differ…
Q: The graph shows the cost curves, demand curve, and marginal revenue curve of a firm in monopolistic…
A: Monopolists would like to maximize the profit by producing at a unit where Marginal Revenue is equal…
Q: In the long run, a monopolistically competitive firm will A. produce where p> ATC. B. produce where…
A: A monopolistic competitive market it is a structure where many industries firms and companies are…
Q: Compared with a perfectly competitive market, a monopolistically competitive firm's demand curve is…
A: A Monopolistic competitive market has different pricing policy from a perfectly competitive market…
Q: Draw a diagram of a monopolistically competitive firm showing the firm earning profits in the short…
A: In the short run, the firm makes an economic profit and this economic profit attracts the other…
Q: Briefly explain monopolistic competition and provide an example of this in a South African industry.
A: Markets refers to the arrangements under which buyers are sellers are able to strike a deal…
Q: The graph shows the demand, marginal revenue, marginal cost, and average total cost curves of La…
A: The firm maximizes its profit or minimizes its losses at the point where the marginal cost of…
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: Which of the following conditions does NOT describe a firm in a monopolistically competitive market?…
A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers…
Q: What is the advantages of perfect competition in its rivalry - - the monopolistic competition?
A: Perfect Competition is the market structure involving larger number of buyers and sellers selling…
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 is perfect competition? Distinguish it to monopolistic competition
A: Perfect Competition in actual world is a imaginary market that is it does not exists in the real…
Q: In the long-run equilibrium of a monopolistically competitive industry, the zero-profit point is to…
A: The markets in an economy varies from each other depending upon their structures. Though each and…
Q: Refer to the above figure. A long-run equilibrium in monopolistic competition is pictured by اختر…
A: Answer: Correct option: option b (panel B) Explanation: In monopolistic competition, the firms earn…
Q: In the long run, the positive economic profits earned by the monopolistic competitor will attract a…
A: A monopolistically competitive market is characterized by a large number of small firms that produce…
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: The following graph shows the marginal-cost (MC) curve and the average-total-cost (ATC) curve for a…
A: A monopolistically competitive market structure is one where there are large number of small firms…
Q: The graph shows the demand, marginal revenue, marginal cost, and average total cost curves of La…
A: Here, the given graph shows the cost, revenue and demand function of La Bella Pizza firm is a…
Q: For each of the following characteristics, say whether it describes a monopolistic competitive or…
A: 1. There is a single model to explain the firm's behavior.- Monopolistic market. Monopoly occurs…
Q: Provide an example of an industry that is monopolistically competitive. Regarding average total cost…
A: In a perfectly competitive market, there is a number of buyers and sellers, selling similar…
Q: 23) When MR = MC and P= ATC for a monopolistically competitive firm, the firm is in A) short-run…
A: When a monopolistically competitive firm produces the level of output at which marginal cost (MC)…
Q: Explain the equilibrium of a firm under monopolistic competition.
A: Monopolistic competition describes an industry in which a large number of enterprises compete for…
Q: Generally, the food and beverage industry can be classified as an example of a monopolistic…
A: In monopolistic competition, there are many buyers and sellers. Firms have some control over the…
Q: Why this is true "When monopolistically competitive firms make a profit in the short run, ,then in…
A: There are many firms in the monopolistically competitive market. The products are differentiated in…
Q: a) Using the following graph state the price and quantity the firm will be at if the monopolistic…
A: a). In a monopolistic market, the quantity is decided by the intersection of the MR(marginal…
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- Both connected if possible pls answerAll A,B ,C ,D are required to solveQ5) A firm is planning to manufacture a new product. The sales department estimates that the quantity that can be sold depends on the selling price. As the selling price is increased, the quantity that can be sold decreases. Numerically they estimate: P = $35.00 - 0.02Q where P =selling price per unit Q = quantity sold per year On the other hand, the management estimates that the average cost of manufacturing and selling the product will decrease as the quantity sold increases. They estimate C = $4.00Q + $8000 where C = cost to produce and sell Q per year The firm's management wishes to produce and sell the product at the rate that will maximize profit, that is, where income minus cost will be a maximum. What quantity should the decision makers plan to produce and sell each year?
- Luke is an engineering consultant who lives North Carolina and works around the world. In 2019 Luke traveled to Costa Rica for 2 weeks and provided consulting services to a Costa Rican developer. All of the work took place in Costa Rica. He was paid $14,000 USD by the developer. Luke claimed this income on his 2019 U.S. tax return. Which of the following is correct regarding how the final value of this service will appear in national income accounts? <choose all that are correct> Group of answer choices $14,000 will appear in US GDP. $14,000 will appear in US GNP. $14,000 will appear in Costa Rica's GDP. $14,000 will appear in Costa Rica's GNP.MR is a manufacturer of industrial fridges, freezers, and air conditioners. In December, the productionplanner needs to submit a production plan to the plant manager for the next year. The aggregate forecast foreach quarter of next year is Q1: 14,800; Q2: 26,400; Q3: 35,000, and Q4: 19,200 units. The beginning inventoryin January is 0, and the year-end inventory in December of next year can be 0. It costs MR $24 to hold anappliance in inventory for one quarter. Shortages are undesirable. Assume that all shortage will be backordered, and that back-order cost is $100 per unit per quarter. There are 160 permanent workers who produce19,200 units per quarter. In busy quarters, workers can produce up to 9,600 additional units during overtime.Regular time labour cost is $60 per unit appliance and overtime labour cost is $83 per unit. MR can hire up to160 temporary workers for a second shift. Assume temporary workers have the same productivity and canproduce up to 19,200 units per quarter. A…Answer only sub part D (abc no need to answer but D is must)
- Prominent Sdn Bhd produces furniture at several factories. Its Seberang Prai factoryproduces office chairs. Management aims to increase production in the coming year to 800units per month. Therefore, management is exploring two production strategies for thecoming year. The first strategy is to continue operations with the existing machine, MachineA, and the second strategy is to rent a new machine, Machine B, to produce the office chairs.The monthly rental of Machine B is RM14,000. Machine B takes half an hour to produce oneoffice chair. However, it requires a more skilled labour force with an hourly rate of RM30 perhour.Comparatively, continuing to use Machine A means that costs will remain the same. MachineA is 5 years old and is operating below capacity. The hourly labour rate is RM20 and thematerials required for each unit is RM30. Each office chair is assembled within an hour. Eachunit of the finished office chair is sold for RM120.The fixed monthly running costs of thefactory is…Please answer correct explain 14 and 15 plz both are Don't answer by pen paper plzTwo lathes are being considered in the manufacture of certain machine parts. Data is given below, all cost in peso: REQUIRED:a. Determine the number of machine parts/year that could be produced so that 2 lathes will be equally economical ifthe MARR is 18%. Use AWMb. If the number of parts is 10,000 units, which lathe will you recommend? Use RORc. If the number of parts is 10,000 units, which lathe will you recommend? Use PWM
- Find the derivative of ln(2x2)+ln(2x)+13 where x=1 Select one: a. None of the above b. 1/3 c. 3 d. 1Anderson International Limited is evaluating a project in Erewhon. The project will create the following cash flows: Year Cash Flow 0 - S1,785,000 1 610,000 2 707,000 3 580,000 4 483,000 All cash flows will occur in Erewhon and are expressed in dollars. In an attempt to improve its economy, the Erewhonian government has declared that all cash flows created by a foreign company are "blocked" and must be reinvested with the government for one year. The reinvestment rate for these funds is 4 percent. If Anderson uses a required return of 11 percent on this project, what are the NPV and IRR of the project?Define the PW and AE concepts?