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- which market structure(s) might firms produce a homogeneous product? Answer a. perfect competition only. b. monopoly only. c. monopolistic competition only. d. perfect competition and monopolistic competition. e. perfect competition and oligopoly.Need answer ASAP Jean City Water District is an example of firm operating under what type of market? a. Perfect competition b. Monopolistic competition c. Monopoly d. OligopolyDefine each of the following markets: Monopoly, Perfect competition, Monopolistic Competition, or Oligopoly Answer all asap
- For market failure unit (market power). In the long run graph for monopolistic competition, firms are no longer earning abnormal profit due to low barriers to entry as there are more similar goods on the market, lowering demand, causing them to earn normal profits, however, shouldn't that cause MR to be equal to AR (demand curve), similar to the normal profit in perfect competition? Why is MR less than AR here when it is earning normal profit?Evaluate the model of Monopolistic Competition. What are the key assumptions? Do you think this model is useful for explaining many "real world" businesses? Why or why not? How does it compare in this regard to the models of perfect competition and monopoly?Q2. Which model's equilibrium price and quantity most closely matches perfect competition? a. Bertrand Competition with Identical Goods b. Stackelberg Duopoly c. Monopolistic Competition d. Cournot Oligopoly
- In prices. market structure, firms sell differentiated products but due t A) a monopolistic competition B) an oligopoly a monopoly D a perfect competition Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate.In which market structure would you place each of the following products: monopoly,monopolistic competition, or perfect competition? Why: a. market for water andsewerage services, b. Economics, by N. Gregory Mankiw and Mark P. Taylor, c.Economics Text book, d. Restaurants in a large city, e. Tomato f. Air travel from any oneairport.What is the term used to describe a situation where the price of a good or service is determined by the market forces of supply and demand without government intervention?A) MonopolyB) OligopolyC) Perfect competitionD) Monopolistic competition.
- Explain monopolistic competition. How is it similar to perfect competition? How does it differ from perfect competition?What differentiates monopolistic competition from a monopoly?a A seller operating in a monopolistically competitive market no longar facet a downward-sloping demand curve,b. There are more seller,c. Firms can enter the market selling similar but not identical productd. (b) and (e)e. all of the aboveUnder the model of monopolistic competition, a(an) ________ in the number of firms in the industry will cause ________ to ________..
