Q4. Monopolistic market structure is characterized by large number of buyers and seller selling close substitute, product differentiation, selling cost, If the firms in a monopolistically competitive market are earning economic profits or losses in the short run, would you expect them to continue doing so in the long run? Why?

Q: Explain the role of brands in a monopolistic competition market. How can the pricing and profits for…

A: Monopolistically competitive market is one of the four market forms where there are large number of…

Q: What effect would a successful advertising campaign differentiating a product from one's competitors…

A: Definition; Product advertising is paid promotional communication aimed at persuading consumers to…

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: monopolistic competition said to be inefficient?

A:

Q: Look at the figure below. Which diagram is consistent with a monopolistic competitor making zero…

A: Answer to the question is as follows :

Q: Suppose you manage a local grocery store, and you learn that a very popular national grocery chain…

A: In monopolistic competition, each firm assumes that the price charged by the competitor will remain…

Q: Identify whether the following statement is true or false and explain why. 1. Like a firm in a…

A: In monopolistically competitive industry, firms are price takers and they refuse to sell the goods…

Q: What is the best market structure between perfect competition vs monopolistic competition? Why?…

A: Perfect competition and monopolistic competition are forms of market.  In the perfect competition,…

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

A: The three key attributes of monopolistic competition is listed below. Large number of sellers:…

Q: If the price of the product in a monopolistically competitive market decreases what happens to the…

A: Monopolistic competition is a kind of imperfect competition to such an extent that numerous makers…

Q: “Competition in quality and service may be just as effective as price competition in giving buyers…

A: The firms under monopolistic competition because it frequently prefers to do non-price competition…

Q: Draw the Demand, Marginal Revenue, Marginal Cost, and Average Total Cost curves for a…

A: The monopolistic competition includes numerous organizations contending with one another, yet…

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: 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: If the firms in a monopolistically competitive market are earning economic profits or losses in the…

A: In a monopolistic market, the eqm. occurs at a point where the MR(marginal revenue) and MC(marginal…

Q: Discuss the long-term effects in a monopolistically competitive market if an existing firm is making…

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

Q: Draw a diagram of the long-run equilibrium in a monopolistically competitive market. How is price…

A: In a monopolistic competitive market there are large number of firms selling similar but not…

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: QUESTION 2: Discuss three characteristics of monopolistic competition. If the demand for the product…

A: The market structure can be divided into four based on the degree of competition and the type of…

Q: Describe the three attributes of monopolistic competition. How is monopolistic competition like…

A: Monopolistic competition is a system of the market that incorporates monopoly characteristics with…

Q: Consider the long-run equilibrium with monopolistic competition. Do you consider it to be efficient…

A: Concept: A monopolistic competition is a market where there are large number of buyers and sellers…

Q: Monopolistically competitive firms in the long run will do which of the following? They will produce…

A: Monopolistic competition is a form of imperfect market structure with the features of more firms…

Q: What gives firms market power in an industry characterized by Monopolistic Competition?

A: Monopolistically competitive firms have one trademark that resembles an imposing business model (a…

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: What effect does the entry of new firms have on the economic profits of existing​ firms? When new…

A: When new firms enter a monopolistically competitive​ market, the economic profits of existing firms…

Q: Q9. A fundamental feature of a monopolistic market is that the firm a) can sell any quantity it…

A: Monopolistic Market:- A monopolistic market is a hypothetical situation in which only single…

Q: Why do companies in monopolistic markets keep

A: Monopolistically competitive industry refers to a market with many sellers producing similar…

Q: Explain how monopolistic competition is different from perfect competition and monopoly in both the…

A: There are four types of market namely, perfect competition, monopolistic competition, monopoly and…

Q: how does a firm behaves in monopolistic competition and  explain the outcomes for the firm in the…

A: Monopolistic competition is a type of market structure where there are a large number of buyers and…

Q: How does the short run differ from the long run in a monopolisticallycompetitive market?

A: A form of inconsistent competition is monopolistic competition so that multiple suppliers market…

Q: What is the relationship between product differentiation and monopolistic competition? Or is there a…

A: There exist a relationship between monopolistic competition and product differentiation.

Q: Give an example of a market that has monopolistic competition and explain how the example you have…

A: Monopolistic competition is a kind of market structure where there are several competitors on the…

Q: true or false Monopolistic firms do not care about profits, their goal is to maximize total revenue.

A: The market structure can be divided into four based on the degree of competition and the type of…

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: Explain in detail the similarities and differences between Perfect competition and Monopolistic…

A: A market is a set of the processes, organizations, practices, social interactions or infrastructures…

Q: Monopolistic market structure is characterized by large number of buyers and seller selling close…

A: Market structure refers to the place where the transaction of goods and services takes place between…

Imperfect Competition

Imperfect competition is relatively easier to understand once people have the knowledge of perfect competition. When the five conditions of perfect competition are not made, that market structure is said to be imperfect competition.